Antonis Samaras’s mission to end Greece’s exile from bond markets faces a reality check this week as data show how deeply the economy remains mired in deflation with the worst jobless rate in the euro area.
The Greek government, approaching the end of a second international bailout that has kept it afloat since 2010, plans a return to markets by selling 2 billion euros ($2.8 billion) of bonds, three officials said.
Greece will probably sell bonds for the first time in four years before May as the nation seeks to rebuild its finances following an international bailout, Infrastructure Minister Michalis Chrisochoides said.
Europe has told Greece to unite behind a faltering austerity program to stay in the euro. Antonis Samaras, poised to become Greek premier, has a history of stoking divisions inside and outside his New Democracy party.
Dutch Finance Minister Jeroen Dijsselbloem dashed Greek government hopes of gaining debt relief before European elections in late May, saying the euro area would likely wait until August to take up the matter.
A Greek opinion poll before the country’s June 17 elections showed the conservative New Democracy party, the largest pro-bailout group, leading Syriza, which opposes implementing an international rescue program.
A Greek opinion poll showed the Syriza party, which is opposed to implementing Greece’s international financial rescue, in a dead heat with pro-bailout party New Democracy ahead of general elections to be held on June 17.