Greek leader: bond market return in 2018 ‘important target’

by Icetruck

6 years ago

Greek leader: bond market return in 2018 'important target'

The Associated Press

People stand by a giant Greek flag and the ruins of the fifth century B.C. Parthenon temple on the Acropolis hill in Athens, on Thursday, Dec. 28, 2017. (AP Photo/Petros Karadjias)

Greece's prime minister says a full return to markets in 2018 remains an "important target," with the country's bailout funding formally ending in August.

At a Cabinet meeting Monday, Alexis Tsipras cited a steady drop in public borrowing rates as the yield on 10-year bonds remain under 4 percent, touching the lowest level in over a decade.

Greece has depended on international rescue loans since 2010, but the government is at odds with the country's central bank governor, who supports retaining a post-bailout precautionary credit line from lenders.

The government is under pressure to speed up reforms before the bailout exit, and this week is set to present a barrage of legislative proposals that include unpopular measures like limiting labor union powers.