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Dallara: Greece could return to markets late 2014, early 2015

Greece could return to the markets at late 2014 – early 2015 according to Charles Dallara, the managing director of the Washington-based bank lobby group, the Institute of International Finance (IIF), speaking on the sidelines of the World Economic Forum in Davos.

He also said that the market sentiment has improved tremendously in the real economy. “Spain may avoid a bailout, he noted and he insisted that growth’s needed in the country”.

In addition he stated that if UK left the EU, we’d alla be losers. “UK must clarify it’s position with Europe”, Dallara said.

Cyprus, rather than Spain, Italy or Greece, poses the biggest sovereign risk to the euro zone,

“I think Cyprus is, on a country level, the most serious risk the euro zone faces today, not Spain, not Italy, not Greece,” Dallara told CNBC yesterday.

“I see a disconnect between Cyprus and its euro zone partners, and I see little sense of how to bridge the gap there. This concerns me, and I also think the risk of complacency, of underestimating the potential contagion impact if you mismanage Cyprus, is quite high,” he added. (

Much to my knowledge Ireland and Portugal are to return to the markets soon too, however this does not mean that the average irish or Portuguese has overcome his daily problems to make ends meet.

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