The Euro Gets Some Good News

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Much needed, because this is less good (if not entirely surprising):

German Finance Minister Wolfgang Schaeuble said on Tuesday for the first time that Greece will need another bailout, triggering a storm of protest from opposition parties five weeks before an election in Europe's biggest economy….

"There will have to be another programme in Greece," Schaeuble said.

A Greek finance ministry official told Reuters a new bailout would involve sums far smaller than in previous rescues and would focus on plugging an expected funding shortfall over 2014-2016.

German minister's Greek aid comments spark pre-election backlash [Reuters]
Euro Gains After Bundesbank Comments [WSJ]

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