"Our borrowing needs are EUR 66bn in 2012. We are covered with EUR 24bn through the existing loans. The rest must come from the market, including EUR 27bn through long-term loans”, Papaconstantinou told reporters.
“We hope the market will be open before 2012. If it does not happen we may tap the EFSF," he added.
Papconstantinou said last European Summit’s decisions constitute a major step by the euro zone to address market jitters, as they allow countries like Greece to tap the EUR 440bn European Financial Stability Fund.
"The Eurozone will turn the page after the March summit. It will have the necessary mechanisms to address future problems," he said.
source: CAPITAL
