Finance Premiers Declare No Need for Third Bailout
Today, Greek Finance Minister Yannis Stournaras and Bank of Greece Governor Giorgos Provopoulos confirmed that the nation will not need an additional bailout.
After four years, financial markets are reopening to Athens, as its economic state is developing.
Interviewed by Bloomberg Television, Finance Minister Stournaras commented, "Up to the moment, we don't see a need for a third bailout...I think the program money, along with the better performance on the fiscal side, are enough to cover us fully for the next 12 months, and under certain conditions that could continue up to well inside 2016".
Bank of Greece Governor Provopoulos recently explained at an Athenian event,"The second round of the credit sector recapitalization will play a crucial role in restoring confidence in Greece and the healthy funding of the economy". He further elaborated,"...although the crisis in Greece has been deep, it became the catalyst for the streamlining and the recapitalization of the banking sector, along with the implementation of reforms that will bring considerable yields in the future."
Tomorrow's planned European Finance Ministerial meeting in Athens has no need to currently ponder a third bailout for the nation. The session's primary focus, is to implement the timetable and supplemental amount of already designated funds to Greece.