Greece on target to return to markets, exit bailout say lenders

Representatives of Greece's rescue creditors say the country is on target to regain access to bond markets by the end of the year and exit the bailout program next summer.

Officials from the European Commission, European Central Bank, and a eurozone rescue fund said a major round of austerity cuts and reforms approved by Greece's parliament several weeks ago provided the country a “real opportunity” for the country public finances to recover.

The officials spoke at a conference at the luxury seaside resort of Lagonissi near Athens on Wednesday.

Greek bond yields have tumbled since the latest cuts were passed, a sign of greater investor confidence in the country, and the government reached an agreement with creditors to restart loan installments.

[AP]