by Kerin Hope
February 26, 2018
Greece’s central bank governor has again urged the government to seek a precautionary credit line after the current €86bn bailout ends in August to reduce borrowing costs on international financial markets.
Yannis Stournaras told the annual meeting of shareholders of the Bank of Greece that “such an arrangement would provide secure access to financing for Greek banks and the public sector after the [bailout] programme ends.”
“The possibility of making use of a preventive support programme shouldn’t be over-dramatised . . . these European mechanisms were created to be used when they are needed,” Mr Stournaras added.