Monday April 21, 2014 Search
Weather | Athens
17o C
11o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
FinMin confirms market entry

 Stournaras says Athens and eurozone discussing measures to lighten Greece’s debt

By Sotiris Nikas

The Greek government intends to return to the money markets within 2014 to cover some of its needs and avoid a third bailout, Finance Minister Yannis Stournaras confirmed on Wednesday during a press conference in Athens.

Athens is hoping that the country will issue bonds in the second half of the year, while it has not ruled out doing so as early as the first half of 2014, even though Germany, in particular, has expressed its opposition for an issue this year. When Stournaras was asked how the funding gap for 2014-15 could be covered, he included borrowing from international markets among the solutions on the table. The minister estimated the gap at 11 billion euros, adding that this could be covered without a third loan package.

“There are many scenarios,” said Stournaras, adding however that this would depend on the successful completion of Greek banks’ stress tests.

“We are ready and inclined to gain limited access to the markets in 2014, provided of course the good results continue – and we have no doubt that the good results will continue,” he said. The minister is reported to have pointed to a five-year bond issue in the country’s first attempt to return to the money markets this year.

Stournaras did say that “it is too early to say definitively how the gap will be covered,” deferring such talk until after the completion of talks with the country’s creditors on the issues of the ongoing monitoring of the Greek economy.

After all, the European Commission has spoken in favor of Greece returning to the markets in 2015, in line with reports in the German press that reflect the views held in Berlin. However, a report in the Financial Times yesterday noted that Greece would be able to tap the markets sooner rather than later.

Stournaras futher revealed that the eurozone and Greek authorities are examining measures to lighten the country’s debt load by about a quarter, or 82 billion euros, in line with the creditors’ obligations to Greece. The minister said that any new assistance from the bloc could come in the form of an interest rate reduction or the extension of the repayment period for the existing debt.

ekathimerini.com , Wednesday Jan 8, 2014 (22:38)  
Eurobank share offering on April 25-29
PPC to issue corporate bond of 500 mln
Primary surplus continued by end-March
Eurobank eyes top Core Tier 1 level in Greece
Greek Christians mark rare Good Friday in north Cyprus
Hundreds of Greek Orthodox pilgrims, some coming home after 40 years of forced exile, commemorated the crucifixion of Jesus in a rare Good Friday service in northern Cyprus. Held in this med...
Greece offers to help find Turkish F-16 lost in 1996
Greece officially offered on Thursday to assist Turkey in its efforts to locate and salvage a Turkish Air Force fighter jet which crashed in the Aegean almost 20 years ago. Greek Defense Min...
Inside News
BASKETBALL
Greens lose badly as CSKA Moscow
Panathinaikos has a mountain to climb in order to reach the Final Four of the Euroleague after losing at CSKA Moscow on Friday for a second time in two days, only this time it was comprehens...
BASKETBALL
Former Red Bourousis wrecks Olympiakos´s hopes for a break
Olympiakos tried harder in Game 2 of the Euroleague play-offs in Spain, and Real Madrid was not as good on Thursday as in Game 1, but the Spaniards still emerged victorious on the night with...
Inside Sports
COMMENTARY
The placebo effect and the economy
Among the greatest mistakes made in the years of Greece’s hard landing is that citizens did not get the chance to sense that aside from austerity and pain the economic adjustment program als...
COMMENTARY
Ukraine is a crisis—but not a Cold War
Given Russia’s annexation of Crimea, the imposition of US and European sanctions, and the potential for more escalation in Ukraine, we are witnessing the most important geopolitical events s...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Greek Christians mark rare Good Friday in north Cyprus
2. Eurobank share offering on April 25-29
3. Greens lose badly as CSKA Moscow
4. Former Red Bourousis wrecks Olympiakos´s hopes for a break
5. PPC to issue corporate bond of 500 mln
6. Greece offers to help find Turkish F-16 lost in 1996
more news
Today
This Week
Today
This Week
1. Greece's market return mirrors return of tourists
2. Parties start announcing candidates for European Parliament elections
3. Greece startup leaders say they can’t break jobless cycle alone
4. Ground-breaking Good Friday mass signals thaw in Cyprus
5. IMF's Thomsen says Greece not fully financed to 2016
6. Mayoral candidates clash over Athens mosque plans
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.