Athens eyes ample cash buffer, prepares for bond swap

EconomyProgramme Tags: Debt, Markets
Photo by Panayotis Tzamaros/Fosphotos
Photo by Panayotis Tzamaros/Fosphotos

Speaking to a parliamentary committee on Wednesday, Alternate Finance Minister Giorgos Houliarakis highlighted the government’s plans for creating an ample cash buffer before it exits the third programme next summer.

The creation of this reserve was one of the points agreed at the June 15 Eurogroup earlier this year and gives Athens a chance of leaving the bailout without the need for a new loan package or a precautionary credit line.

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