The Minister of Finances Yannis Stournaras gave an interview to German financial newspaper Handelsblatt, where he explained that Greece did not a need a new debt haircut, as it can be reduced by other means, such as relaxing the terms of the current bail out deals.
Mr. Stournaras added that Greece could reenter the markets as soon as the second half of 2014, assuming there is a positive growth in the economy and primary surplus in the first half of 2014.
The Minister explained “that would be a great success which would allow us to test the market with a new bond issue in the second half of 2014 […] initially with a small amount”. Mr. Stournaras added that the new bonds could be “perhaps even less” than the rumored three to five billion euros.
