No Further Loans Needed For Greece – Prime Minister Samaras

Greece is on schedule to exit its EU-IMF bailout program in 2014 and should require no further loans, the country’s Prime Minister Antonis Samaras said in a television address late Monday.

“In 2014, Greece will venture out to the markets again [and] start becoming a normal country,” the prime minister said in the address, according to media. “In the new year, Greek debt will be officially declared viable, meaning there will be no need for new loans and new bailout agreements.”

The embattled euro zone state has secured two international bailouts since mid-2010, totaling about $330 billion.

Ireland this month became the first euro zone member to successfully exit its international bailout and analysts say a similar move by Greece would brighten the prospects for the euro area, which has been battered by financial crises and recession in recent years.

CNBC

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