Greece 'on target' to tap bond markets by the end of year
LAGONISSI, Greece (AP) — Greece is on target to tap bond markets for money again by the end of this year and exit its bailout program next summer, representatives from the country's European creditors said Wednesday.
Officials from the European Commission, European Central Bank, and a eurozone rescue fund said recent austerity measures that included further cuts to pensions and economic reforms will further solidify Greece's public finances over the years ahead.
"Greece is entering the final year of the program with a real opportunity to regain market access and actually end the program on schedule in August next year," Declan Costello, the EU Commission's Greek mission chief, said at a conference at a luxury seaside resort near Athens.
Greece was first bailed out back in 2010 when it was effectively locked out of bond markets because investors were asking for sky-high interest rates in return for money. Without the money, Greece would have gone bankrupt and most likely have had to ditch the euro currency.
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