Athens calling Brussels for public support to calm the markets

tovima.gr/en,  Thursday, October 16, 2014

With the Greek stock exchange market suffering in the past few days, the coalition government has requested a public statement of support from Brussels in an effort to curb the negative climate and disposition towards the Greek economy.

A high-ranking Finance Ministry officer told To Vima that at present the Greek government cannot convince the markets, as foreign investors are concerned about the political instability and fear the worst. The officer added that, at present, Greece can only expedite the implementation of the bailout program.

Despite the apparent resurgence of the financial crisis though, the Finance Ministry urges calmness, stressing that the markets are “shallow”, meaning that things may change sooner rather than later. Furthermore, the Ministry notes that the talks over the so-called preventative credit line, or rather the emergency fund reserves, will continue.

This reserve of funding resources will be comprised from domestic and European sources and will help towards covering Greek funding needs after the completion of the bailout program. A deal for its formation is expected by the Eurogroup scheduled for the 8th of December.

Source: www.tovima.gr/en/
Athens calling Brussels for public support to calm the markets
http://www.tovima.gr/en/article/?aid=641677