Wednesday April 16, 2014 Search
Weather | Athens
19o C
12o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Japonica head says his company will support a Greek bond issue

By Sotiris Nikas

Paul Kazarian, the head of investment firm Japonica Partners, has told Kathimerini he intends to support a new Greek bond issue, but only under certain conditions.

The firm’s chairman and chief executive was in Athens last week for a series of meetings with local politicians and business figures and agreed that the time has come for Greece to make a gradual return to international money markets and for the country to rebound both on a political and a financial level. He added that the markets have sent the message that they are ready to invest anew in the Greek economy.

“Of course I would buy Greek bonds in a new issue,” Kazarian told Kathimerini, setting two clear conditions. The first is that Greece will have to issue a detailed bulletin with a complete fiscal snapshot and financial statement. Kazarian showed Kathimerini a similar bulletin for New Zealand that he had with him and underscored the significance investors attribute to being able to study an investment destination fiscal data in its entirety.

The second condition Kazarian set out is that Greek authorities utilize an accounting tool that reflects the country’s financial state in a different way: This is the International Public Sector Accounting Standards (IPSAS), according to which, Kazarian says, Greece’s public debt is smaller than 100 percent of the country’s gross domestic product. He adds that there is no reason to abandon the existing accounting system, applied according to European regulations, as long as there is also a sufficient reflection of the country’s finances via IPSAS.

Under these conditions, Kazarian claims that Greece could tap the money markets as early as in the first half of next year. He believes that such an attempt would prove completely successful given that Greece’s public finances are in a much better state than those of other eurozone countries, while Greek bonds will offer much higher yields.

Kazarian again refused to reveal the amount of Greek bonds Japonica holds, but he stressed that he is willing to invest in Greek companies too, whether in the private or public sector. After all Japonica specializes in the corporate market and not bonds. Kazarian said he does not rule out trading his Greek bonds with a local state company.

ekathimerini.com , Monday December 9, 2013 (21:34)  
Euro periphery emerges as haven as bonds rise amid Ukraine feud
Euro periphery emerges as haven as bonds rise amid Ukraine feud
Industry turnover index declines in February
Eurozone inflation stuck in ´danger zone´, keeps pressure on ECB
Golden Dawn MP to face charges for 2005 mugging
Supreme Court prosecutor Efterpi Koutzamani asked Parliament on Tuesday to lift the immunity of Golden Dawn lawmaker Artemis Matthaiopoulos so he can face charges of theft in connection with...
Drasi and Recreate Greece say TV channels ignoring them
The leaders of Greece’s two pro-business parties, Theodoros Skylakakis (photo) of Drasi and Thanos Tzimeros of Recreate Greece, wrote to the broadcasting watchdog on Wednesday to complain th...
Inside News
BASKETBALL
Defense lets Olympiakos down at Madrid
Olympiakos played second fiddle to Real Madrid in a rather spectacular game in Spain on Tuesday going down 88-71 to trail 1-0 in the best-of-five quarterfinal series with the Spanish giant. ...
SOCCER
Apollon is relegated, Xanthi to face survival play-off
Apollon followed Aris to the second division and Xanthi will contest a relegation play-off, as the end of the regular season of the Super League on Sunday produced predictable results that a...
Inside Sports
COMMENTARY
Stopping the madness
Greek society is threatened by an overdose of madness and hatred. To be sure, behind the rise of polarization and of extreme – sometimes extremist – views is the harsh reality of the debt cr...
EDITORIAL
Fundamental contradictions
The deep division running through the ranks of the country’s main opposition party regarding the euro and how Greece’s negotiations with its partners and creditors ought to be carried out is...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Golden Dawn MP to face charges for 2005 mugging
2. Drasi and Recreate Greece say TV channels ignoring them
3. Minor traffic offenders to get plates back for Easter
4. Police in Thessaloniki collar two for big debts to state
5. Mayoral candidates´ offices in Athens targeted by vandals
6. Euro periphery emerges as haven as bonds rise amid Ukraine feud
more news
Today
This Week
1. EU struggles to unpick the knot of Russia-Ukraine gas logistics
2. Stormy weather expected in northwest, central Greece
3. Greece to assist search for remains of Turkish pilot
4. University admission exams to commence May 28
5. Bad weather leaves northwest town powerless
6. Illegally claimed pensions cost state over 12.5 million euros
Today
This Week
1. Bomb explodes outside Bank of Greece
2. Time to take a hard look at debt sustainability, says OECD chief
3. For faith and country
4. CCTV footage from Nigrita Prison shows signs of inmate torture [Video]
5. Samaras sees no need for third bailout
6. Car bomb explodes outside Greek Central Bank building, no one hurt [Update]
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.