Friday October 31, 2014 Search
Weather | Athens
18o C
13o 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)  
Big monthly drop for stocks
Eurozone inflation up, unemployment steady, Eurostat reports
Greek retail sales rise for third month in a row
Germany’s 10-year bonds decline before euro-area inflation data
Cyprus court ruling opens way for bailout funds
The Cypriot supreme court ruled as unconstitutional Friday four bills on bank foreclosures whose passage by parliament prompted international lenders to halt payments on the country’s 10-bil...
Greek PM appoints new defense, development ministers [Update]
Greek Prime Minister Antonis Samaras named his development minister to the defence ministry portfolio on Friday to replace Dimitris Avramopoulos, who is set to become an EU Commissioner. Nik...
Inside News
BASKETBALL
Obradovic watches Greens thrash his Fenerbahce
The second homecoming of former Panathinaikos coach Zeljko Obradovic, now at Fenerbahce, was not as emotional as last year’s, but it was certainly was the night of an emphatic triumph for th...
SOCCER
Berg returns to add spice to Panathinaikos´s Cup win
The second round of games for the group stage of the Greek Cup produced plenty of interesting games and results in midweek, but it still lags the upset potential that the knock-out stages of...
Inside Sports
COMMENTARY
The judiciary’s responsibility
The reform efforts over the past few years have begun to bear fruit. Greece has improved its standing in the World Bank’s Doing Business rankings, rising 48 positions from 2010 to 61st place...
EDITORIAL
Findings raise eyebrows
An investigation into money transferred to foreign banks by civil servants since 2010, when Greece’s brutal debt crisis erupted, has come up with some striking findings. The checks, which we...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Big monthly drop for stocks
2. Cyprus court ruling opens way for bailout funds
3. Greek PM appoints new defense, development ministers [Update]
4. PSI victims protest in Athens, Thessaloniki
5. Archaeologists find underground vault in Amphipolis tomb
6. Eurozone inflation up, unemployment steady, Eurostat reports
more news
Today
This Week
1. Man shot dead, woman injured in Vathis square attack
2. Cyprus’s Georgiades bets on economy for Irish-style bailout exit
3. Germany’s 10-year bonds decline before euro-area inflation data
4. Archaeologists find underground vault in Amphipolis tomb
5. Greek retail sales rise for third month in a row
6. New defense minister to be appointed without reshuffle
Today
This Week
1. Austria’s creative bookkeeping beats Greece on secret debts
2. End of reason, end of humanity
3. Clean bill of health for Greek banks from stress tests
4. Samaras pledges action after flash floods in Athens
5. Eurobank, National Bank restructurings eliminate capital gap
6. Athens flood damage assessed, compensation payments to begin
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.