Both the conditions and the intention for a first attempt to tap the markets are there, General Secretary for Fiscal Policy Fragkiskos Koutentakis told the Athens-Macedonian News Agency (ANA) in an interview published on Saturday. The timing of Greece's return to the markets would be chosen so that this return "is absolutely safe and successful," he added.
Koutentakis noted that the market interest rates for Greece's debt will be higher than those of the European Stability Mechanism (ESM). He also pointed out, however, that the aim at present was not to find the cheapest borrowing rate but to gradually return the country to a normal state, where it was financed by the markets and did not depend on political lending from the official sector.
Referring to the state of the Greek economy, the general secretary noted that the country has "left behind it all hint of financial risk" after implementing an extremely tough fiscal adjustment programme.
"This, combined with the completion of the review have eliminated the main sources of uncertainty and improved the prospects of the Greek economy," he said.
Koutentakis also pointed out that these positive prospects lead to financial decisions that have a visible impact on economic activity. "We are already seeing encouraging signs; the labour market is showing impressive momentum since the start of the year while the bond markets have been responding particularly well in recent weeks. This favourable conjunction must be protected and reinforced so that it is sustainable," he said.