Klaus Regling, the head of the European Stability Mechanism, on Monday said that Greece should develop a strategy for its return to market borrowing and raise private finance before its euro zone bailout program ends in a year’s time, as reported by Reuters.
Key quotes (via Reuters):
- Greece will not need that much borrowing from the markets in the future
- It’s important for Greece to develop a strategy to go back
- Ireland, Portugal and Cyprus had returned to borrowing in markets “well before” the end of their programs, in order to avoid a possible gap in funding
- It is important for Greece to develop its strategy, including communicating with investors and reassuring them of its commitments to the reforms which euro zone sovereign creditors have demanded