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RSS FeedsGreece exits bailout programme after eight years, but Turkish fears remain - business live
(The Guardian China)

 
 

20 august 2018 09:03:33

 
Greece exits bailout programme after eight years, but Turkish fears remain - business live
(The Guardian China)
 


Greece is now able to raise money in markets after EUR289bn bailout endsFull report: Greece emerges from eurozone bailout 8.00am BST Today Greece returns to normal, according to Portugal´s finance minister and head of the eurogroup:#Greece is now in a position where it can enjoy the full extent of EURA membership, abiding by same rules as every other #euro country. In that sense, Greece today returns to normal. So welcome back. Video-statement: https://t.co/W4tiHtPgzO pic.twitter.com/6HGBo735dg 7.58am BST Giorgos Papakonstantinou, who was finance minister when Greece signed up to the bailout, said he would do the same again if the country was in the same position.He told the BBC´s Wake up to Money programme:The choice we had at that point was either to allow the country to go bankrupt by not paying our debts... at which point we would not have been able to pay salaries and pensions and provide basic public services.Or to sign a bailout which would give us time to reduce those deficits.Unfortunately I give a high probability that Greece will enter a new crisis three to five years from now, partly because Greece still has a very high level of debt and it has to repay a lot in the near term.If Greece´s growth slows down long-term, then markets might become very nervous and Greece will enter a new crisis. 7.53am BST European markets are expected to make a mixed start to the week:European Opening Calls:#FTSE 7555 -0.05%#DAX 12233 +0.18%#CAC 5355 +0.18%#MIB 20370 -0.22%#IBEX 9425 +0.08% 7.52am BST Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.It´s a momentous day for Greece and its government led by prime minister Alexis Tsipras. After eight years and innumerable late night eurozone crisis meetings, the country is exiting its bailout programme. The so-called troika of creditors - the European Union, the European Central Bank and the International Monetary Fund loaned Greece a total of EUR2 ...


 
8 viewsCategory: General > Asia > China
 
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