“The Greek recovery may be facing yet another hurdle. According to German daily Süddeutsche Zeitung, the beleaguered country needs another massive influx of money if it is to avoid insolvency. The paper cites an unnamed official at the European Commission as saying that the “financial gap” could be as large as €10 billion. The news comes at a difficult time for Greece and its relations with Germany. German Finance Minister Wolfgang Schäuble is highly unpopular in Greece for his consistent insistence on austerity. And with German elections looming in September, it seems unlikely that additional aid money for Athens will be forthcoming anytime soon.”
