Economy
Saturday, May 14, 2016
“Perhaps much earlier” will end the crisis his country, says the Greek Prime Minister Tsipras. It is an automatic debt brake assist, which simply cuts and social spending.
The heavily indebted Greece intends to raise from next year again money on the free 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 Vice 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.
If Greece finance back on the open market, it takes it to make any such commitments. 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 already spoken of a return of his country to the free capital market. At that time he had said he Peile for this step in the second half of 2016th
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The euro zone finance ministers had agreed a few days ago, clearing the way for the disbursement of billions of aid from the third aid package if possible in May. 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 2018th
Source: n-tv.de
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