Monday December 22, 2014 Search
Weather | Athens
13o C
8o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Economy reverting to normality

 Finance minister, central banker point to return to markets, saying country has regained its credibility

Greece will not need another bailout package, as its economy has been streamlined and the markets are reopening to Athens after four years, Finance Minister Yannis Stournaras and Bank of Greece Governor Giorgos Provopoulos stated on Monday, a day after the government passed a key parliamentary test with the voting on the measures agreed with its creditors.

“Up to the moment, we don’t see a need for a third bailout,” Stournaras said in an interview with Bloomberg Television. “I think the program money, along with the better performance on the fiscal side, are enough to cover us fully for the next 12 months, and under certain conditions that could continue up to well inside 2016.”

Markets are opening again to Greece, Propovoulos told an event in Athens organized jointly by the Eurofi think tank, the Hellenic Presidency of the European Council and the BoG.

“The second round of the credit sector recapitalization will play a crucial role in restoring confidence in Greece and the healthy funding of the economy,” stated the central banker, while Stournaras argued he is “quite confident that the whole of the capitalization needs will be covered by the private markets,” explaining that there is a “huge appetite” for Greek banks in the markets.

Provopoulos went further, asserting that “although the crisis in Greece has been deep, it became the catalyst for the streamlining and the recapitalization of the banking sector, along with the implementation of reforms that will bring considerable yields in the future.”

The central bank governor added that a substantial feature of the Greek crisis has been the vicious cycle of mutual negative impacts between public finances and the credit sector. “From these mutual impacts, a key conclusion has been deduced: namely that an effective economic and monetary union will need to include a banking union as well,” he said.

“The main pillar for the bank union in the eurozone will be the Single Resolution Mechanism (SRM), and in my opinion the negotiations on the SRM have been satisfactory,” added Provopoulos, also a member of the European Central Bank board.

ekathimerini.com , Monday March 31, 2014 (22:38)  
Spanish bond gains push yield to record low as Greek debt rises
Low costs, yield hunt to propel long-term euro zone bond sales in 2015
Greek current account deficit shrinks in October
Energy shares and Greek rebound lift European equities
Bomb hoax at SYRIZA HQ in central Athens
The threat of a bomb being planted at SYRIZA’s headquarters in central Athens proved to be a hoax. The party’s offices on Koumoundourou Square were evacuated at lunchtime on Monday after a c...
DIMAR not poised to break apart, insists spokesman
Democratic Left’s parliamentary spokesman Nikos Tsoukalis has rejected a report claiming that his party may be on the point of breaking apart. “This report is so far from the truth that I do...
Inside News
SOCCER
Special day for Abidal, lucky one for PAOK
PAOK scraped through its Livadia challenge beating Levadiakos to remain on top of the Super League for Christmas, one point ahead of Olympiakos that enjoyed a great game at Kalloni and offer...
BASKETBALL
Explosive Barca unfazed by Panathinaikos, bomb scare
Panathinaikos lost 80-67 at home to Barcelona on Friday in a rather meaningless game at the end of the first group stage of the Euroleague, but the encounter will be remembered for the bomb ...
Inside Sports
INTERVIEW
Klaus Regling stresses debt sustainability through commitment to reforms
BRUSSELS – The man who is responsible for the loans to Greece as managing director of the European Stability Mechanism (ESM/EFSF), Klaus Regling, is the only high-ranking European official w...
INTERVIEW
‘Crisis of confidence will come back again and again,’ says Thomas Piketty
He’s treated like a rock star wherever he goes to lecture. His book “Capital in the 21st Century,” a study on income and wealth inequality from the 18th century to the present, recently tran...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Bomb hoax at SYRIZA HQ in central Athens
2. DIMAR not poised to break apart, insists spokesman
3. SYRIZA offices in Athens evacuated after bomb threat
4. Spanish bond gains push yield to record low as Greek debt rises
5. Low costs, yield hunt to propel long-term euro zone bond sales in 2015
6. Greek parliament vote in balance after Samaras election offer
more news
Today
This Week
1. Prosecutor gathers depositions in Independent Greeks 'bribe' probe
2. Euro shaky on ECB and Greece, dollar keeps edge
3. Government accuses SYRIZA and Independent Greeks of 'clear alliance'
4. Draghi starts squaring QE circle in month of persuasion for ECB
5. Greek parliament vote in balance after Samaras election offer
6. Parliament's ethics committee to look into independent MPs' comments
Today
This Week
1. Samaras summons bond vigilantes with euro exit talk
2. High stakes
3. Europe's drama in Greece needs final act to avoid tragedy
4. A friendly yet firm message from Pierre Moscovici
5. On the edge but not gutless
6. Ship with 200 migrants off Pylos towed to Italy after passengers refuse to stop in Greece
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.