Greek Policymakers Opt for Growth Reject Bailout

Policymakers at the heart of the Greek government went on the offensive this weekend, stating that the struggling euro zone nation would not need a further loan from its partners in the region and predicting a return to growth with the help of foreign investment.

“We expect that we are going to see positive growth for the first time in the third quarter,” Gikas Hardouvelis, Greece’s finance minister told CNBC at a meeting of euro zone officials in Milan.

The country was one of the first in Europe to be hit by the global financial crisis of 2008 and the full scope of its problems became apparent two years later. It helped spark the euro zone sovereign debt crisis.

Greece needed to be bailed out by the rest of the euro zone and the International Monetary Fund, but now hopes to graduate from its loan program in 2016 without further assistance after six years of crippling recession.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza