Sunday, May 8, 2011

Greece May Want Fund to Buy Debt

Sunday, May 8, 2011

ATHENS—Greek Finance Minister George Papaconstantinou said Saturday that Greece was exploring the possibility of having a European bailout fund buy its debt if the government is unable to access capital markets again next year.

"The markets continue to disbelieve in our country," Mr. Papaconstantinou told reporters. "We have to plan our next steps for 2012, for 2013."

This could mean turning to the European Financial Stability Facility if the Greek government is still unable to issue debt in capital markets in 2012 as planned. The remark was the first public indication from a Greek official that Athens is preparing for ...

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