Schaeuble: Third Greek bailout ‘less than €10bn’

German finance minister Wolfgang Schaeuble reckons a third bailout for Greece would be less than €10bn, significantly smaller than each of the previous aid packages, German magazine Focus has reported.

Greece was cut off from markets in 2010 as the true scale of its debt burden became apparent.

After four years of painful measures to contain debt, two bailouts totalling €240bn and a hit on private bondholders, the Greek economy is expected to return to modest growth this year.