The highly indebted Greece will be from next year again raise money on the open capital market. “We are 2017 the markets come back,” Prime Minister Alexis Tsipras told the weekly newspaper “Real News”. An agreement with creditors to reductions in debt should help the euro crisis country case said the Deputy Prime Minister Yannis Dragasakis the newspaper “Naftemporiki”.
European Central Bank (ECB), European Commission and International Monetary Fund ( IMF) have Greece preserved in three rescue packages in total before several hundred billion euros from bankruptcy. In return, however, the country had, among other things drastic social reforms, spending cuts and tax hikes undertake. Should Greece finance back on the open market, it would have to go for any such obligations. In recent years, however, Greece was this way not to go because investors had so demanded high interest rates for longer-term bonds on the free capital market due to the high failure risk in Greece that if it was economically unsustainable for the government in Athens.
about a half year Greek Finance Euclid Tsakalotos had ever heard of a return of his country speaking on the free capital market. At that time he had said he Peile for this step the second half of 2016.
way for new aid is still in May dates are
The euro zone finance ministers had agreed a few days ago, if possible in May to pave the way for the disbursement of billions of aid from the third aid package. Dragasakis said green light would cause the Greek banks could refinance again cheaper. In addition, the country would be resumed in the bond-purchase program by the ECB. So still could flow in the Greek economy in 2016 nine to twelve billion euros.
Prime Minister Tsipras said the “Real News” Moreover, his country could rescue program of ECB, EU and IMF considerably earlier definitively left than the end date in August 2018
Varoufakis. “Schäuble is an incompetent man”
Much more pessimistic estimates of the former finance minister Yannis Varoufakis the situation in Greece: he has in an interview with the new platform for freelance journalists “Athens Live” reported, which was published on Facebook. The country is “at the moment is not sustainable,” he said in the interview. “The savings are in a new wave of indignation open” Varoufakis predicted.
In the interview itself Varoufakis also expresses derogatory remarks about the German finance minister. Wolfgang Schäble was a “small, incompetent man,” he said. In the Greek crisis he was acting “like a conductor” who “tried in a tangle of conflicting interests, to achieve a victory over Merkel”. While Varoufakis’ own term in office was the “Grexit” always been an empty threat and never a serious threat, also said the former minister.
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