brassmonkey |
04-12-2014 02:15 PM |
Greece?s return to the markets
A bond issue is a milestone but there is still a long way to go
<<http://1.bp.blogspot.com/-6TtyifF0In0/TeoXXILQ2lI/AAAAAAAANU8/QKKD3w_ck3U/s1600/lgr-soldiers-1a683.jpg>>
image was too big check out the locks
http://www.journeymart.com/de/CityIm...ers-athens.jpg
hotlinked is that fucking hair weave?? :Oh crap :helpme :upsidedow :1orglaugh:1orglaugh:1orglaugh
THE journey has been an epic one, but Greece has reached, if not the destination, at least a waymark. The last time that its government raised long-term funds was in March 2010, just weeks before the markets lost confidence in Greece altogether, forcing its first bail-out. This week the Greek government returned to the markets, raising ?3 billion ($4.1 billion) in five-year bonds at a yield of just under 5% in a heavily oversubscribed issue.
The amount might be small and the yield high compared with borrowing costs in other rescued countries, such as Portugal, whose five-year notes were trading at around 2.6%. But the notion of any bond issue at all still prompts eye-rubbing, given the depth of the Greek crisis. Six consecutive years of recession have seen the economy shrink by a quarter, prompting social and political turmoil that at its worst seemed quite likely to push Greece out of the euro zone. For most of the past four years a return to the markets on any terms seemed inconceivable, a view underscored by vaulting bond yields
full article...
|