The Greek Prime Minister Lucas Papademos worked hard to elevate fears and concerns that surround his country, as he said that Greece has made every effort to avoid seeking a third bailout but the potential need for further aid couldn't be ruled out.

Papademos said Some form of financial assistance might be necessary but we have to work intensely to avoid such an event, as the return to drachma would trigger high inflation, exchange instability and a fall in the real value of bank deposits.