Greek Prime Minister Rules Out Third Bailout

Greece’s new radical left government has no intention of seeking another bailout deal from international creditors and will spend coming months trying to ease the terms of its current commitments, the financially struggling country’s prime minister said Friday.

Alexis Tsipras remarks came hours after lawmakers in Germany, a key rescue loan provider, overwhelmingly approved the four-month extension of Greece’s extant deal.

“The bailout agreements are over, both in form and in essence,” Tsipras told a cabinet meeting. “Some people are betting on a third bailout in June … but we will disappoint them.”

Money has been tight, and figures released Friday showed Greece’s economy shrank slightly in the fourth quarter of 2014. The statistics authority said the economy contracted 0.4 percent compared with the third quarter, on seasonally adjusted basis.

Greece’s economy has lost a quarter of its value compared to pre-crisis levels in 2008.

The Huffington Post