Eurozone

Greece will accept some form of precautionary support to exit its bailout this year, Prime Minister Antonis Samaras said on Friday after several days of bond and stock market turmoil.

With Greek bond yields continuing to shoot up Thursday, the European Commission stepped in to try to calm markets as it insisted that it would stand by Greece even if the country does not continue with the International Monetary Fund part of its program beyond the end of the year.

Greece might secure a further safety net of credit from its eurozone partners if it manages to meet the strict terms required to exit its bailout at the end of this year, a source close to discussions told Reuters yesterday.

As discussions get under way between Greece and the International Monetary Fund about a potential early exit from the country’s bailout program, Eurogroup Chairman Jeroen Dijssebloem did not rule out the prospect on Monday but suggested that such a debate was premature.

Efforts to maintain the 1,000-point level of the Greek stock exchange’s benchmark paid off for a second day in a row on Monday, though the focus on this defensives approach illustrates the extent to which the market has run out of steam.

 Precautionary program to consolidate Greece in markets and ease transition to post-bailout period

Minister: Reforms are political decisions

ARANĐELOVAC -- Attracting investment is one of the most important elements of Serbia's development that has made a political decision to enter reforms, Željko Sertić says.

The European Central Bank will buy assets for at least two years to boost inflation and economic growth in the euro area.

European Central Bank President Mario Draghi is set to push the ECB to buy junk-rated Greek and Cypriot bank loans, a move that may increase tensions between Germany and the bank, the Financial Times reported.

One day after Prime Minister Antonis Samaras met with German Chancellor Angela Merkel where he set out how Athens could exit its adjustment program and cover its financing needs from next year, leftist opposition SYRIZA attacked the conservative leader saying talks in Berlin had produced zero results.