Tsakalotos: Greece will make a clean break with official lenders when its international bailout expires in August

“Greece expects to make a clean break with official lenders when its international bailout expires in August and has no reason to seek a precautionary credit line,” Finance Minister Euclid Tsakalotos said in an interview with Reuters on Wednesday.

Tsakalotos told Reuters that the country is building up its own protective buffer that, along with unused European bailout funds, would cover Greece “for well over a year”, if needed.

In coming months, he said, the country would be preparing its own post-bailout plan with an emphasis on reforms, social policies and growth.