Greece could need a 3rd bailout package

Greek Prime Minister Lucas Papademos declared on Friday that Greece could need a 3rd bailout package.

This might happen if the austerity measures will not stabilize the economy and restore market confidence.

“Greece will do everything possible to make a third adjustment program unnecessary. It cannot be excluded that some financial support may be necessary, but we must try hard to avoid such an outcome,” Papademos said.