Hungarian economist Zsolt Darvas of the “Bruegel Institute” said Greece would have to accept a 4th bailout program (memorandum), during a speech in Thessaloniki. Speaking at the “Thessaloniki Summit” event, the Hungarian economist stressed  expressed the view that Greece would fail to borrow from the markets in 2018 and would be forced to receive a 4th package of financial aid. Addressing the attendees from the podium at the event, Darvas expressed the view that an expansion in Greece’s GDP would result the country avoiding taking out a large loan, while acknowledged Greece had made great efforts in bringing about reforms. On the matter of Greece’s debt, he opined that the fact 80% was in the hands of official creditors was negative, as it discouraged private investors from entering the Greek economy. Finally he linked the outcome of the Greek debt to German elections.