Friday October 24, 2014 Search
Weather | Athens
19o C
12o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greece readies bond sale as Athens car bomb reminds of upheaval

By Marcus Bensasson & Paul Tugwell

Greece’s move to sell bonds Thursday ends a four-year exile from international markets that saw it bailed out twice, carry out the world’s biggest sovereign debt restructuring and teeter on the brink of exiting the euro.

A car bomb exploded outside one of the Bank of Greece’s offices in central Athens this morning as a reminder of the upheaval that continues to rock the country almost four years after it resorted to calling for outside aid. Police said no one was injured in the bombing.

Greece seeks to raise 2.5 billion-euros ($3.5 billion) from the five-year bond issue, a Greek government official told reporters in Athens Wednesday. The book on the offering opens this morning, London time, said the official, who asked not to be identified because the process has not been completed.

“We welcome this,” Poul Thomsen, the International Monetary Fund’s mission chief to Greece, said Wednesday. “It’s a fundamental objective of the program to bring Greece back to market and this is an important milestone in this regard, and that clearly speaks to the success of the program.”

The Greek government has been shut out of bond markets since March 2010 and kept afloat with bailouts totaling 240 billion euros from the euro area and the IMF. Those funds necessitated the regular presence in Athens of officials from the so-called troika of the European Commission, the European Central Bank and the IMF, which became associated with austerity measures that triggered a political and social backlash.

Protests, strikes and even bombings have been regular occurrences in Greece since then. Thursday's device exploded at about 6 a.m. outside a building belonging to the Bank of Greece, causing some damage to surrounding buildings, a police spokeswoman said by phone. Government spokesman Simos Kedikoglou said on Skai TV that the identity of the perpetrators is not known and the police are continuing their investigations.

Greece won approval this month from euro-area members for an 8.3 billion-euro aid payment, the first disbursement from its bailout program since December. The government and European Union predict that Greece will this year emerge from six years of recession that has cost about a quarter of the country’s economic output and sent the unemployment rate surging to more than 27 percent.

The so-called initial price talk for the bond sale shows the nation may pay between 5 percent and 5.25 percent to borrow, according to a person familiar with the matter who asked not to be identified.

Demand was six times stronger than the amount to be issued, Kedikoglou said on Skai TV. “There was strong interest for the bond,” he said. [Bloomberg]

ekathimerini.com , Thursday April 10, 2014 (10:56)  
Athens, Nicosia satisfied by EU leaders´ stance toward Ankara
Suspended policeman chief suspect in cousin’s murder
No decisions yet on Greek bailout, says Samaras
Prescription fines since 2012 reach 2 bln, says minister
TAIPED waits for green light from Eurostat
Eurostat has frozen the securitization of properties that the Hellenic Republic Asset Development Fund (TAIPED) had been planning. The project, drafted to bring some 400 million euros into t...
Trade deficit shrinks on big drop in imports
Greece’s trade deficit shrank 29.5 percent year-on-year in August as a result of the considerable 16.3 percent decline in imports, Hellenic Statistical Authority figures revealed on Friday. ...
Inside Business
SOCCER
Panathinaikos snatches point at Eindhoven
Panathinaikos offered its fans a glimpse of its glorious past in European competitions snatching a draw at PSV Eindhoven, on an otherwise bad night for Greek soccer in the Europa League, as ...
BASKETBALL
Greens succumb to first loss at Bayern
Panathinaikos’s unbeaten run in all competitions came an end on Thursday as the Greek champion lost 81-75 at Bayern Munich for the Euroleague. Bayern is a team that improves every year, and ...
Inside Sports
COMMENTARY
Tension for tension’s sake?
It is evident that Turkish President Recep Tayyip Erdogan feeds off tension. He would barely have achieved as much as he has – and prevailed – if he had not been so keen to confront a series...
EDITORIAL
Testing ground
The Regional Authority of Attica is a good testing ground for politicians who appear to thrive on accusations to prove whether they can actually solve major problems of a practical nature. T...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. TAIPED waits for green light from Eurostat
2. Trade deficit shrinks on big drop in imports
3. SMEs unable to claim subsidies
4. Taxes kept growing in second quarter
5. Thessaloniki Port expects 2014 to be record year
6. Athens, Nicosia satisfied by EU leaders´ stance toward Ankara
more news
Today
This Week
1. Woman killed in tram accident in Floisvo, south of Athens
2. Clocks to go back 1 hour on Sunday
3. Venizelos slams Turkey for 'flagrant violation of international law' off Cyprus
4. ECB vies for third time lucky in European stress tests
5. ECB bank assessment to show 6-billion-euro capital gap, Citi says
6. Cyprus GDP upgrade seen as boosting bailout exit plans
Today
This Week
1. The past, present and future of the Greek debt crisis
2. Greece’s closed society is central to its current malaise
3. Coalition shooting itself in the foot
4. Greece must stick to reforms, says Schaeuble
5. At least 11 banks to fail European stress tests, three in Greece, report says
6. Cyprus to block Turkey's EU talks after EEZ violation
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.