Thursday September 18, 2014 Search
Weather | Athens
27o C
19o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Gov’t makes plans for July debt issue

 Return to markets will be with a 3-or 7-year bond before the start of the troika’s next major inspection

By Sotiris Nikas

The Finance Ministry is examining plans for a three- or seven-year bond issue by the end of next month, which is said to have no connection to the implementation of the prior actions required for the disbursement of the bailout sub-tranches due this summer.

Sources have told Kathimerini that the ministry is processing various plans concerning the new bond issue, with the likeliest being for an issue in July. A preliminary discussion has already taken place with the representatives of the country’s creditors and their response is said to have been neither positive nor negative.

Reuters also ran a report on Tuesday on a new Greek bond issue next month, after which government spokeswoman Sofia Voultepsi stated that “neither the government’s decision to respond to the prior actions required for the funding of the country to continue smoothly nor the positive recent developments in the economy justify any actions such as those heralded by a report published [on Tuesday] that cites a statement by a ‘senior Finance Ministry official.’ Greece’s next return to the markets will happen whenever it is required, but by choice and not necessity.”

The troika of inspectors from the European Commission, European Central Bank and International Monetary Fund are set to return to Athens on July 8 for a brief intermediary monitoring visit. Provided the mood regarding the Greek economy on international markets does not change, the government will likely proceed with the new bond issue at end-July.

The troika’s main inspection will begin in late August, with the aim of covering a number of significant issues, and could last for months or even until the end of the year. It will determine whether any new measures will be required for next year, whether the country’s debt can be lightened further and whether a new bailout package will be needed.

Consequently, if there is no bond issue by the end of August, it will be very difficult to schedule for the fall or winter while crucial negotiations are ongoing, as a climate of uncertainty over an agreement between Athens and the troika could create concern in the markets, which is not the case today.

ekathimerini.com , Tuesday June 17, 2014 (23:33)  
Tourism drives jobless rate down
Hardouvelis asks for some room to breathe
Athens could miss out on last bailout installment
Greek stocks take a dive ahead of demotion
Police, protesters clash during rally to mark Fyssas killing
Greek police fired teargas at protesters who hurled petrol bombs and stones in Athens on Thursday during a rally marking one year since the killing of an anti-fascism rapper by a far-right G...
Prescription limit to rein in EOPYY spending
In a bid to rein in its expenses, the country’s largest healthcare provider, EOPYY, is to announce a limit in the coming days on the number and type of diagnostic tests that doctors affiliat...
Inside News
SOCCER
Financial crisis forces Greek second division postponement
Greece's second soccer division Football League announced on Wednesday the postponement of the start of the season due to financial difficulties being faced by most clubs. "The board of dire...
SOCCER
Mitroglou rediscovers scoring touch after Fulham let-down
Costas Mitroglou banished the memories of his disappointing spell in England after breaking a 10-month goal drought as Olympiakos Piraeus secured a thrilling 3-2 Champions League win over At...
Inside Sports
COMMENTARY
High stakes after the Scottish vote
We will soon know whether the Scots voted for their country’s independence or whether they will remain citizens of the “United Kingdom of Great Britain and Northern Ireland.” What was alread...
COMMENTARY
Greek society’s and lenders’ fatigue
The issue of early elections continues to dog the coalition government despite all the official denials. That the administration is losing its cool is obvious. The political discourse has no...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Tourism drives jobless rate down
2. Hardouvelis asks for some room to breathe
3. Athens could miss out on last bailout installment
4. Police, protesters clash during rally to mark Fyssas killing
5. Prescription limit to rein in EOPYY spending
6. Prosecutor says six guilty in trial of terror group
more news
Today
This Week
1. SYRIZA ahead of ND, new opinion poll shows
2. Extradited Greek couple to face magistrate in Athens
3. National Bank of Greece said to pick advisers for Turkish sale
4. Unemployment at 26.6 percent in second quarter of 2014
5. Man's charred remains retrieved from vehicle following accident
6. Bank of Cyprus sells UK loan portfolio
Today
This Week
1. Greece on standby
2. Greece at bottom of social justice scale among EU28
3. Central Athens traffic restrictions back in force on Monday
4. Avramopoulos appointed Commissioner for Migration and Home Affairs
5. Lost in the fog
6. EU bank tests may miss trillion dollar risk, study finds
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.