Greece will not need a fourth program, says Germany’s Altmaier

Greece will not need a fourth bailout program after the current one expires, Germany’s acting Finance Minister Peter Altmaier said on Tuesday, after the ECOFIN meeting in Brussels.

“Right now I do not see a fourth program. This is not discussed anywhere,” he said, adding that the program will “almost certainly” be completed as agreed and Greece’s creditors will very likely not need to pay the full 86 billion euros that have been earmarked for the country.

“I think we have a good chance of completing the program without having to disburse all the funds – and we will certainly discuss the next steps in the coming weeks,” he added.

Altmaier urged the Greek government to remain in the path of reforms till the end, noting that berlin now expects Athens to formulate a growth strategy for the coming years. He said Germany wants Greece to maintain fiscal discipline even after the expiration of the bailout program and implement further structural reforms, noting that the reforms achieved should not be jeopardized.