, Columnist
Greece's Deal Leaves Too Much to Chance
The country still hasn't proved it has access to the bond market.
Looking but not buying — yet.
Photographer: Matthew Lloyd/Getty Images
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The government must be ecstatic, and the prime minister’s tailor even happier. Greece has secured a much more generous than expected deal that should allow it to put its bailout behind it and let Alexis Tsipras put on the tie he promised to forgo until the country’s debt woes were over.
But there remains one sticking point: whether the country can raise money from the bond market on its own. Until Greece can successfully sell a multi-billion euro bond to international investors, it can’t truly be said to be on a sustainable path.