Econintersect: Greece hopes to broker cheaper interest rates on rescue loans from fellow EU states after showing "credibility" in its efforts to reduce its enormous debt, the Greek finance minister has said.
"A discussion has begun on the cost of borrowing which is very important for us," George Papaconstantinou told TV station Mega late Wednesday.
"As we regain our credibility, we are more able to demand and negotiate ... better treatment," the minister said. Follow up:
Follow up:This came as Klaus Regling, head of the EU bailout fund, announced that Greece would not need any debt restructuring.
In May, Athens faced bankruptcy and had to appeal for a loan rescue from other European Union states at over five percent, a rate which market analysts see as difficult to sustain given Greece's continued economic frailty.