Greece open to credit line from its lenders
In a clear attempt to reassure Greece’s international lenders and bond markets alike, the country’s government has changed its rhetoric (and strategy) on how it plans to exit the EU & IMF – sponsored bailout deal.
Amid a global market sell-off, Greece saw its borrowing rates soar. Effectively, the country was yet again unable to fund itself through bond market over the last week.
Prime Minister Antonis Samaras made the “u-turn” clear speaking to reporters in Milan last week where he attended the Asia-Europe Meeting. The PM said the credit line was “an item of negotiation” but did not clarify whether it would come from eurozone counterparts or the International Monetary Fund.
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