Greek Govt Ambitious to Avoid Third Bailout

Greek Govt Ambitious to Avoid Third Bailout

Greece is fully funded for the year ahead and hopes to finance itself on the market afterwards as its economy returns to growth, Reuters reported.

The country plans to sell 1.5 billion-2 billion euro of five-year bonds in the first half of the year, as the cash it hopes to raise would complement money that Athens will get from the euro zone and the International Monetary Fund.

"We had assurance... that Greece is fully financed for the coming 12 months," the chairman of euro zone finance ministers Jeroen Dijsselbloem said, as quoted by Reuters."I have taken note of the optimism, or, let's say the ambition of the Greek government, not to have another programme. Of course I would like to share that ambition, yet I think it's too early to say."

The next tranche of loans Greece is set to receive would be 6.3 billion euro at the end of April. Greece will get two more tranches of 1 billion euro each in the following months, although the disbursements will depend on the government meeting specific conditions.

The European Commission expects Greece to return to economic growth for the first time in 6 years, predicting gross domestic product will grow 0.6%  this year and 2.9% next year.

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