Papademos: Can't rule out third Greek bailout

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Papademos: Can't rule out third Greek bailout (by MarketWatch)

FRANKFURT (MarketWatch) -- Greek Prime Minister Lucas Papademos on Friday said the country was working to ensure it won't need a third bailout but said the potential need for further aid couldn't be ruled out, news reports said. "Some form of financial assistance might be necessary but we have to work intensely to avoid such an event," Papademos told Italy's Il Sole 24 Ore newspaper, according to Reuters. The prime minister said exiting the euro would be a disaster. "The return of the drachma would trigger high inflation, exchange instability and a fall in the real value of bank deposits," he said, according to the report.

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