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Finance Minister: Greece May Return To Markets In 2011

Greece may return to the markets in 2011 given that conditions continue to improve, Finance Minister George Papaconstantinou told CNBC Wednesday.
“All our reforms are on track,” he said. “2011 will be a good year to come back to the market assuming conditions continue to normalize.”
He noted that budget consolidation is on track, while a major pension reform gas been passed ahead of time.
On Tuesday’s T-Bill Auction, Papaconstantinou indicated that while it is not a huge market test, it gave positive signs.
“We said from the beginning we do not consider this a huge test for coming back to the market,” Papaconstantinou said.
“It΄s a rollover of T-bills, it΄s a debt management exercise,” he added.
However, he pointed out that the auction was oversubscribed.
“And the good news also was that roughly about 10 foreign banks participated in what is usually predominantly a domestic affair,” Papaconstantinou said.

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