Business insider
Pavel Ramírez, Business Insider España Aug. 23, 2018, 6:14 AM
Eight years and three bailouts later, Greece is seeing light at the end of what has been a very long tunnel: the European Stability Mechanism (ESM) announced last week that Greece had "successfully" emerged from the three-year financial assistance programme agreed between Athens and its international creditors in 2015.
Over three years, the country had to fork out €61.9 billion to finance economic recovery and bank recapitalisation. The ESM reported that the remaining €24.1 billion available under the programme's maximum threshold of €86 billion wasn't needed.
While things are looking up for Greece, its economic data still looks far from ideal and there are major challenges still facing Athens.
Tuesday, September 11, 2018
Bailout Over, Greece Returning to Stormy Markets
Wall Street Journal
Tsipras is promising some relief from austerity measures while sticking to budget disciplineBy Nektaria Stamouli
Updated Sept. 9, 2018 5:11 p.m. ET
THESSALONIKI, Greece—Greek Prime Minister Alexis Tsipras unveiled his post-bailout economic policy over the weekend, promising some relief from austerity measures while sticking to budget discipline.
His difficulty is that Greece has weaned itself from bailout loans just as bond markets are becoming more volatile again after years of calm.
Greece doesn’t need to borrow from bond markets immediately, thanks to a large cash buffer built up at the end of its eurozone-led bailout. But the country needs to rebuild investor confidence in its bonds if it is to stand on its own feet financially in coming years and avoid turning to emergency loans from Germany and other eurozone governments.
Tsipras is promising some relief from austerity measures while sticking to budget disciplineBy Nektaria Stamouli
Updated Sept. 9, 2018 5:11 p.m. ET
THESSALONIKI, Greece—Greek Prime Minister Alexis Tsipras unveiled his post-bailout economic policy over the weekend, promising some relief from austerity measures while sticking to budget discipline.
His difficulty is that Greece has weaned itself from bailout loans just as bond markets are becoming more volatile again after years of calm.
Greece doesn’t need to borrow from bond markets immediately, thanks to a large cash buffer built up at the end of its eurozone-led bailout. But the country needs to rebuild investor confidence in its bonds if it is to stand on its own feet financially in coming years and avoid turning to emergency loans from Germany and other eurozone governments.
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