Saturday November 22, 2014 Search
Weather | Athens
18o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greece is back, market return in sight, says Samaras

By Renee Maltezou & Deepa Babington

Greece has put the worst of a debt crisis behind it and is considering issuing new debt within three months, Prime Minister Antonis Samaras told Reuters on Wednesday.

Greece has enjoyed a sharp revival of fortunes since its debt burden nearly sent it crashing out of the eurozone two years ago. Its economy is set to emerge from a six-year recession this year while bond market yields imply its borrowing costs have dropped to four-year lows.

"Greece is back," Samaras told Reuters at the prime minister's Maximos mansion office in Athens.

"Two years ago, we were the epicenter of financial instability in the area, and we were an unstable country in a relatively stable region. Now the situation is totally different: Greece has stabilized, both politically and economically and there is growing instability around Greece."

He was speaking on Wednesday, a day after Athens secured 8.3 billion euros ($11.5 billion) in fresh aid from eurozone finance ministers, paving the way for the country to meet debt obligations in May and boosting expectations of a return to bond markets to end its four-year exclusion.

"The timing of any such offering is subject to market conditions and we have not ruled out the possibility of coming to market as early as during the first half of 2014," he said.

Officials have previously told Reuters that Athens is eyeing a sale of between 1.5 billion-2 billion euros of five-year bonds in a test issue as it tries to get back on its feet after two bailouts worth 240 billion euros from the European Union and International Monetary Fund.

Samaras, who took power in 2012 at the height of the debt crisis, saw early signs that the economy is recovering along with market sentiment, citing new business start-ups that are creating jobs for youth.

"We've hit rock bottom and now this is the curve going up," he said. "We are at the very beginning of the curve going up."

Athens expects gross domestic product to post modest growth of 0.6 percent this year after a brutal recession that left the economy a quarter smaller.

"The most important words now are stability and growth," Samaras said. "I must not lose my direction, straight all the way, I'm not going to zig zag."

Record unemployment and cash problems facing companies and households remained significant issues, but Greece has now turned a page on the crisis, he said.

"The image and the perception of Greece internationally has changed also. This is a new psychology and this is a new sentiment taking place in Greece and this is why I'm saying Greece is back," Samaras said.

[Reuters]

ekathimerini.com , Thursday April 3, 2014 (10:04)  
Image of artwork showing humans in blender taken out of schoolbooks
Simitis supports Venizelos over new movement
Two businessmen to be questioned in arms kickbacks probe
No swift breakthrough expected in troika talks
More cash for banks with same papers
Greek banks will be able to draw additional liquidity from the European Central Bank after Frankfurt issued a guideline on Friday that revises the haircut applying to securities issued or ...
Growth to fuel rise in revenues
Finance Minister Gikas Hardouvelis on Friday tabled in Parliament the final draft of the 2015 budget which is in line with the targets of the countrys bailout agreement with its creditors a...
Inside Business
INTERVIEW
Tokyo hopes to change the world
The 2020 Summer Olympic and Paralympic Games in Tokyo will serve as a springboard for the rebuilding of Japans image and economy following the triple blow of the earthquake, tsunami and nuc...
BASKETBALL
Big win for Greens, tight one for Reds
Panathinaikos scored a crucial as well as emphatic away win at Turow on Thursday that should see it qualify from its tough group to the top 16 of the Euroleague, while Olympiakos saw off vis...
Inside Sports
COMMENTARY
Give Greece a chance
Greece's creditors are testing the country's endurance - again. If they keep pressing, they could split the euro area apart, which would be a disaster for them as much as for Greece. They ne...
COMMENTARY
Who lost Greece?
If, by unhappy chance, Greeces efforts to create a more efficient economy and more just society should fail, if it turns out that all our sacrifices were in vain, who will be to blame? The ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Image of artwork showing humans in blender taken out of schoolbooks
2. More cash for banks with same papers
3. Simitis supports Venizelos over new movement
4. Growth to fuel rise in revenues
5. Commercial property draws interest from investors
6. Sony chooses Piraeus as its entry point to Europe
more news
Today
This Week
1. Give Greece a chance
2. Coscos Greek unit adds multinational rail-freight client
3. No breakthrough after marathon conference call
4. Israel backs East Med pipeline project
5. Education Ministry mulls over introducing Albanian language classes
6. Greece says EU/IMF lenders disagree with 2015 budget deficit estimate
Today
This Week
1. Double quake on Atalanti fault line rattles Greek capital [Update]
2. Greece and Poland switch roles as young Greeks head to vibrant Eastern European country for better prospects
3. Constructively disrupting the Greek start-up ecosystem: What will the impact be?
4. Anti-junta uprising anniversary to be marked amid tight security
5. Biden heads to Istanbul amid tension over Cyprus EEZ violation
6. Carlsberg takes control of Greek brewer Olympic Brewery [Update]
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.