March 22, 2011 / 11:57 AM / 7 years ago

Greek finmin hopes EFSF won't have to buy Greek bonds

ATHENS, March 22 (Reuters) - Greece hopes the EU’s EFSF rescue fund will not have to buy its bonds, but the country could not go out on markets at current yield prices, Finance Minister George Papaconstantinou said on Tuesday.

“We hope there will be no need for the EFSF to purchase Greek bonds,” Papaconstantinou told reporters.

Thanks to the EU/IMF 110 billion euro bailout, Greece does not need to go back to markets before 2012, but Athens has said it is keen to return to bond markets earlier if conditions are right.

“If spreads have not gone down to sustainable levels ... then the (EFSF) mechanism has the option to buy Greek bonds,” Papaconstantinou said. “Obviously, on current yields, the country can’t go out to markets.”

Papaconstantinou said the government would appoint advisors for some privatisation projects at a cabinet meeting on Wednesday. “Don’t expect (the cabinet) tomorrow to publish a list of what will be sold,” he said.

Reporting by Harry Papachristou; Writing by Ingrid Melander

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