Greek FinMin: Italian volatility making borrowing harder; ready to wait for best time
Reuters quoted Greek Finance Minister Euclid Tsakalotos this week as pointing to turbulence in the Eurozone over the draft Italian budget as making a foray by Athens into sovereign borrowing markets a more expensive prospect, while at the same time emphasizing that he’s “comfortable” to wait for the proper time to seek private funding.
“It has made it a little harder but on the other hand I think markets are now becoming more sophisticated in understanding that Greece has finished its (bailout) program, it has done a huge amount of reforms, it’s got a buffer so that its financing needs are under control for at least 2-1/2 years,” the news agency quoted the formerly UK-based economics professor as saying.
“Also it has got a debt deal that means financing its debt is easier than it is in Portugal and Italy.”
Asked if his government is eyeing a bond sale within the year via syndication, Tsakalotos told Reuters that he will leave the timing up to Greece’s debt agency.
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