Greece Likely To Try Borrowing From International Markets
Greece is likely to return to borrowing from international financial markets in order to take advantage of a drop in its borrowing costs, according to the Guardian’s Business Live Blog. Some bankers in Athens confirmed that preparations are already under way, with the government hiring global investment banks, including JP Morgan and Goldman Sachs, to act on behalf of Greece. Moreover, the blog quotes analysts as saying that Greece’s return to borrowing from international markets would signal the end of its debt crisis. Greece’s Finance Minister Yannis Stournaras, however has declined specifying a date for Greece’s return to market borrowing, saying that the global economy is closing in upon Greece, while spreads continue to drop, and this is a very significant development.