Greece could return to debt market in late 2014, Stournaras says

Greece could return to debt markets to test the water in the second half of 2014 if his country returns to growth in the first half of next year and manages a primary surplus, its finance minister said in a German media interview out on Monday.

“That would be a great success which would allow us to test the market with a new bond issue in the second half of 2014,» Yannis Stournaras told business daily Handelsblatt. «Initially with a small amount, to test the market.”

Asked if it could be in the range of three to five billion euros, the minister answered: «Perhaps even less.”

Stournaras said Greece did not need a second debt haircut because it could reduce its debt burden by other means such as easier terms on its current international rescue packages.