STOCK MARKET WATCH -- Thursday, 13 September 2012

[Roland99]

14. Hope you're sitting down. Greece will need a *third* bailout

MF OFFICIALS SAY GREECE WILL NEED A THIRD BAILOUT
IMF SAYS GREECE CAN'T FILL FUNDING GAP ON ITS OWN, UP TO EUROZONE AND ECB TO FIND MONEY FOR GREECE
GREECE MET ONLY 22% OF PROGRAM TARGETS FOR 2011
EURO EXIT WOULD SET GREECE BACK BY MANY DECADES

http://www.zerohedge.com/news/and-todays-most-shocking-headline-we-have

Greece will need a third bailout package from the euro zone, and the country's European creditors will have to find the money for it, according to a senior International Monetary Fund official.

"Greece will require additional financing, which may take the form either of official-sector involvement or of additional loans, hopefully on more favorable terms," Thanos Catsambas, an IMF alternate executive director, who represents Greece at the Fund's board, said in an interview.

...

The creditors are unanimous that this is Athens' last chance if the financing is to continue. Without the loan payment, the government would run out of cash in a matter of weeks and would have to find new ways of meeting its current obligations, such as pensions and public-sector wages. In an extreme scenario, this may require leaving the euro zone and printing a new currency.

Mr. Catsambas called this last option "an undesirable eventuality that will set the country back many decades."