European Stability Mechanism boss Regling out with a few comments 26 Oct
Our good friends at Livesquawk reporting
- precise timing of Greek bond issuance in 2017 and bond maturities will be decided by Greek debt management office in Athens
- Greece can return to markets if govt shows strong ownership in implementing reform agenda it agree to under the ESM programme
Can anyone guess what pic I'm going to throw up at the end ??
- Greek govt will be helped by the fact that around 2/3 of Greek public debt will be held by ESM and EFSF at end of ESM programme in 2018
- ESM favourable loan terms will apply to large part of Greek public debt for long time ( very low interest rates and long maturities)
Yes folks, you guessed right!
Greece may eventually get sorted but no time soon. Mind you, as I've said before, the Brexit story will have at least one very large can and an even longer road of its own.
