Friday, February 5, 2010

IMF Says A Greek Bailout Could Cost Up To $25 Billion

IMF insiders are projecting that it would cost $20 to $25 billion to pay for a Greek bailout, France΄s daily Le Monde said on Friday quoting unnamed sources.

Le Monde said the Greek government had not ruled out the idea of IMF aid and others, including the French economy ministry, wanted to keep the door open to IMF help.

"The experts from the IMF, estimate that one would need to put $20 billion to $25 billion on the table to reassure the markets of the solidity of a rescue for Greece," the paper said.

It then quoted an unnamed IMF source as saying: "We don΄t really see Paris freeing up $3 billion to fly to the rescue of Athens. And Berlin would have similar problems."

Meanwhile, Dr Inside, Nouriel Roubini, projects that the EU or the IMF will probably offer financial assistance to Greece so that it will avoid default.

“I expect there is going to be eventually some financial support,” Roubini said in a Bloomberg Television interview. That support will come “either directly from the European Union or the ECB or, as I suggest, Greece should be going to IMF to get an IMF package,” he said

1 comment:

  1. That's pocket change here in America. I'm sure we can stiff an AIG exec on his bonus and come up with the $25B. Whaddayasay, Bennie, maybe Greece poses some kinda systemic risk to the universe and we could fling a few bones their way?

    (dang, was going to say shekels then I remembered Bernanke is Jewish and I didn't want to confuse anyone into thinking that was relevant)