ATHENS, Greece (AP) — Greece’s government says financial market turbulence caused by the political crisis in Italy has not changed plans to make a full return to bond markets this year.
Government spokesman Dimitris Tzanakopoulos said Tuesday that Greece was “troubled and concerned” by the developments in Italy but saw no need to change its plans for when Greece emerges from its third international bailout in late August.
Failure by two Italian populist parties to resolve a standoff with the country’s president and form a government has triggered a global market sell-off and abruptly pushed up Greek government borrowing rates.
Greece’s government is adamantly opposed to seeking a post-bailout precautionary credit line from rescue lenders, arguing it needs to reassert control over the economy following eight years of harsh conditions demanded by creditors.
This article provided by NewsEdge.