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Spindelegger says third Greek bailout not expected

A third bailout for Greece is not likely to happen any time soon, according to comments made by Finance Minister Michael Spindelegeer (OeVP) at a meeting with his eurozone counterparts in Athens this week.

"Currently, we do not expect Greece will need a third package," Spindelegger said yesterday. "I hope it will stay like this."

Spindelegger's remarks were made at a eurozone meeting on Tuesday where ministers were discussing the process of paying loans that have been promised to Greece to help them recover from the financial crisis.

The comments contradict those made by German Finance Minister Wolfgang Schaeuble last year when he said that Greece may need a third injection of financial aid. At the time these were made in August 2013 they sparked up debate over whether further money should be given to Greece - a controversial subject for many countries that are already struggling under their own financial burdens.

Greece has had two bailouts so far since the country's economy came close to absolutely collapsing, leaving millions jobless and sparking riots in the capital Athens.

Eurozone officials have confirmed that there are currently no plans for a third bailout and such a thing would only come about at the request of Greece.

With Greece's second bailout plan due to finish at the end of this year, the country's Finance Ministry will be looking for other ways to ensure that they can improve their return to the international market without having to give into further austerity measure that would likely be included part of any third bailout.

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