If Greek PM Antonis Samaras has his way they could. According to MNI, on the sidelines of the EU summit this week he had a word in the ear of Jean Claude-Junker about turning unused bank recap cash into an additional credit line to help Greece exit the bailout.
One of the reasons for doing so is that Greece is still on the ESM drip and swapping that for this credit line would remove the tough ESM terms and surveillance. He would like the facility to run for a year.
The market still doesn’t hold a lot of trust in Greece so I’m not sure they’ll like them trying to get themselves out of surveillance.
