Saturday May 30, 2015 Search
Weather | Athens
14o C
09o 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)  
Greece, creditors seek breakthrough as clock runs down
Coast Guard officials linked to migrant traffickers
Civil aviation union cancels action on minister’s pledge
4.2-magnitude quake strikes off Crete
Greek credit contraction amounted to 2.4 pct in April
Credit expansion remained in negative territory last month as it contracted by 2.4 percent in April, according to data released on Friday by the Bank of Greece. In March the decline had come...
Export-oriented firms benefit from euro rate
The favorable shift in the exchange rate of the euro against the US dollar has led to the creation of two categories among Greek listed companies, as those who export their products to dolla...
Inside Business
SOCCER
Wemmer pens three-year deal with Panathinaikos
German defender Jens Wemmer has signed a three-year contract for an undisclosed sum with Panathinaikos, the Greek Super League club announced on Friday. Right-back Wemmer, 29, has been playi...
SOCCER
Panathinaikos conquers PAOK through Tavlaridis goal
A Stathis Tavlaridis goal has brought Panathinaikos to practically within one point from clinching a spot in next season’s Champions League qualifiers, as the Greens made it three out of thr...
Inside Sports
COMMENTARY
Zenobia, Barbara, Christine and the general’s daughter
ATHENS – Lovely Palmyra has fallen to the zombie horde and its people are being slaughtered as the ancient city awaits its fate. It is Friday, May 22, 2015, and from my window I see the end-...
INTERVIEW
The eurozone’s ‘ambiguous’ architecture
“That’s not something you’re supposed to say in public, right?” In his humble way, Thomas Sargent, Nobel Prize winner in Economics, tries to avoid the question posed to him by Kathimerini re...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Wemmer pens three-year deal with Panathinaikos
2. Greek credit contraction amounted to 2.4 pct in April
3. Export-oriented firms benefit from euro rate
4. VAT hike would put several Athens hotels at risk
5. ATHEX: May ends with a rise of 0.3 pct
6. Greece, creditors seek breakthrough as clock runs down
more news
Today
This Week
1. Greece creditors say no deal near as G-7 frustration vented
2. Only Greece can end its miserable 'Groundhog Day'
3. 12 Russians injured in lightning strike at ruins on Crete
4. Next Greek aid program isn’t on table yet, says Moscovici
5. Some blame EU Commission for Greek obstinacy in debt talks
6. The eurozone’s ‘ambiguous’ architecture
Today
This Week
1. Hotel contracts with a ‘Greek default clause’
2. Some 300 mln left banks on Tuesday
3. Neither Grexit nor a dual currency will solve Greece’s problems
4. No more 'quick and dirty' fixes for Greece
5. Romantic notions meet reality
6. Endless confusion and worry
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.