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Greece planning cautious return to bond markets in 2017

Published 26/05/2016

Greek Finance Minister, Euclid Tsakalotos, left speaks next to deputy Finance Minister Giorgos Houliarakis (AP)
Greek Finance Minister, Euclid Tsakalotos, left speaks next to deputy Finance Minister Giorgos Houliarakis (AP)

A senior official in Greece's finance ministry says the country is planning a gradual return to international debt markets next year.

George Houliarakis, a deputy finance minister, said the decision would hinge on a return to economic growth in 2017 - as forecast by the European Union - and a continued drop in sovereign borrowing rates.

Greece has been locked out of debt markets since 2010, with a brief return two years ago.

Interest rates on Greek government bonds have eased after Athens and eurozone rescue lenders ended months of delays in reviewing the Greek bailout programme.

European lenders agreed this week to unfreeze more rescue loans and to consider debt relief, days after Greece's left-wing government passed a massive new round of austerity measures that include across-the-board tax hikes.

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