Thursday October 30, 2014 Search
Weather | Athens
19o C
12o 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)  
Italy, Greece banks lead Europe decliners amid capital concerns
European stocks tumble as banks decline after Enria’s comments
Germany’s bonds rise as consumer prices decline in six states
Peripheral banks lead European shares lower after positive start
In Athens, NATO chief sees spike in Russian flights on border
NATO's new chief said on Thursday the alliance is increasing its readiness and air policing following a spike in Russian air force activity in Eastern Europe. Jens Stoltenberg said while NAT...
Germany denies backing proposal for Greece to exit aid program
Germany denied it’s given support to proposals that would help Greece exit its bailout early, dealing a blow to a plan that’s already unnerved investors in the nation’s debt. The German gove...
Inside News
SOCCER
Greece drops Samaras for Euro 2016 qualifier
Greece coach Claudio Ranieri has dropped striker Georgios Samaras from the national team after a dismal start to European Championship qualifying. Samaras, who plays for West Bromwich Albion...
BASKETBALL
Panathinaikos and PAOK retain perfect record
The third round of games in the Basket League over the weekend saw PAOK overcome the strong resistance of host KAOD at Drama, and Panathinaikos and Olympiakos inflict heavy losses on AEK and...
Inside Sports
COMMENTARY
Time is running out in Afghanistan
Thirteen years after the attacks on the Twin Towers and NATO's entry into the war in Afghanistan, things remain pretty much unchanged: Political instability and insecurity  reign in the Cent...
COMMENTARY
Cool heads required
It’s time for Athens and Nicosia to deal with the current situation in Cyprus’s Exclusive Economic Zone (EEZ), which a Turkish seismic research vessel has breached against international law,...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. In Athens, NATO chief sees spike in Russian flights on border
2. Greece drops Samaras for Euro 2016 qualifier
3. Germany denies backing proposal for Greece to exit aid program
4. Boy, 13, dies after falling from fifth floor in Thessaloniki
5. Italy, Greece banks lead Europe decliners amid capital concerns
6. Civil servants to be investigated for transferring money abroad
more news
Today
This Week
1. Greek euro dilemma is back as minister predicts volatility
2. Students hijack university senate meeting
3. Clientelism belongs to the past, says Mitsotakis
4. Peripheral banks lead European shares lower after positive start
5. Over 1,500 buildings and vehicles damaged in flash floods
6. Tsipras to meet with BoG governor on Thursday
Today
This Week
1. At least 11 banks to fail European stress tests, three in Greece, report says
2. Austria’s creative bookkeeping beats Greece on secret debts
3. Cyprus to block Turkey's EU talks after EEZ violation
4. End of reason, end of humanity
5. Clean bill of health for Greek banks from stress tests
6. Samaras pledges action after flash floods in Athens
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.