Tuesday Jan 27, 2015 Search
Weather | Athens
15o C
9o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greece targets bond sale before Euro elections, minister says

By Antonis Galanopoulos, Marcus Bensasson & Nikos Chrysoloras

Greece will probably sell bonds for the first time in four years before May as the nation seeks to rebuild its finances following an international bailout, Infrastructure Minister Michalis Chrysochoidis said.

The debt sale will be part of “a series” of positive developments before this May’s European Parliament elections, Chrysochoidis, 58, said in an interview in Athens on Monday. “We will get the next loan tranche, the country will return to markets, with a slightly high interest rate, which will fall after, and Greece won’t remain in this drama of quarterly troika reviews.”

Greek government bonds have delivered the highest return among 25 developed markets tracked by Bloomberg in the past year as the country that triggered the European debt crisis wins back investors. Talks between the so-called troika of the European Commission, European Central Bank and International Monetary Fund ended in the early hours of this morning without agreement on the latest economic adjustment program.

With the ECB’s government-debt assurances and record low benchmark interest rates fueling a rally in sovereign bonds, Prime Minister Antonis Samaras’s government has prioritized tapping markets this year. “Ideally, we’d like to have no new loans from our European partners,” Finance Minister Yannis Stournaras said Jan. 9.

Greece’s 10-year benchmark yield dropped to a four-year low of 6.65 percent earlier this month from 8.61 percent at end-January and a high of 37.1 percent in March 2012.

The outcome of the European elections won’t affect political stability in Greece, where Samaras’s coalition government is clinging to a three-seat majority in the 300-seat Parliament, said Chrysochoidis, who took his first ministry post 20 years ago. His PASOK party, in government for 25 of the 40 years since the end of the military dictatorship in 1974 and now junior partner in Samaras’s coalition, won’t collapse, he said.

A March 15 poll by Alco indicated that Greece’s main opposition SYRIZA party, which has vowed to annul the bailout agreement with the troika, will get 19.1 percent support in the European elections, compared with 18 percent for the governing New Democracy. PASOK polled 5.1 percent, compared with a 36.7 percent result in the last European Parliament election in 2009.

Greece in the next few weeks will begin tenders for a 750 million-euro ($1 billion) airport project on the island of Crete and a 400 million-euro highway between Corinth and Patra, Chrysochoidis said. Greece will also complete a high-speed rail network by the end of 2017, he said.

The government plans to submit legislation before April 18 to turn Athens and Thessaloniki into a logistics hubs and will invest 50 million euros to create wireless hotspots around the country, fulfilling a Nov. 4 promise by Samaras to provide free national Internet access within a year, Chrysochoidis said.

In tourism, a vital part of the Greek economy, airport slot bookings indicate that arrivals will rise 20 percent this year, Chrysochoidis said. [Bloomberg]

ekathimerini.com , Tuesday March 18, 2014 (10:52)  
Consumer confidence in decline in Q4
Euro slide fuels hope of tourism growth
Quest buys Cardlink from Alpha, Eurobank
SYRIZA calls for all taxes to be paid on time
Greek F-16 crash in southeastern Spain kills 10
A Greek fighter jet crashed into parked aircraft during a NATO training exercise on Monday in southeastern Spain, killing at least 10 people and injuring another 13, Spanish defense authorit...
PASOK heading for party congress, leadership contest
PASOK is due to hold a party congress in March, when the leadership of the party will also be at stake, after a poor showing in the elections. Sources said that PASOK leader and outgoing Dep...
Inside News
BASKETBALL
Basket League favorites survive challenges on the road
PAOK consolidated its position in the top three of the Basket League with a triumph at AGO Rethymnou on Saturday, while Olympiakos and Panathinaikos emerged victorious from their tough away ...
SOCCER
Olympiakos overcomes depleted OFI at Iraklio
Easy though it may seem, Olympiakos’s 3-0 win at depleted OFI Crete was rather difficult on Saturday, but was enough to keep the Reds on top on Saturday, as they have maintained their two-po...
Inside Sports
COMMENTARY
SYRIZA´s win will test institutions
Greece was at an impasse, with a government that did not believe in what it was doing and an opposition that declared with passionate intensity that whatever the government did was wrong and...
COMMENTARY
The challenge for Tsipras and others
A few years ago, an associate of mine who had met with Alexis Tsipras when the young politician was running for Athens mayor told me how impressed he had been by his confidence. Tsipras was ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Basket League favorites survive challenges on the road
2. Consumer confidence in decline in Q4
3. Euro slide fuels hope of tourism growth
4. Quest buys Cardlink from Alpha, Eurobank
5. SYRIZA calls for all taxes to be paid on time
6. Stock traders none too pleased with election result
more news
Today
This Week
1. SYRIZA heads for historic victory but without majority
2. Greek Elections 2015: The day after | LIVE
3. SYRIZA's win will test institutions
4. Tsipras forges anti-austerity coalition in challenge to EU
5. Finnish PM says ready to discuss bailout extension for Greece
6. Tsipras moves to form anti-austerity government after crushing victory
Today
This Week
1. Greek Elections 2015 | LIVE
2. Greek Elections 2015 | LIVE
3. SYRIZA heads for historic victory but without majority
4. Greeks fork out nearly 5 pct of their incomes on telecom services
5. QE exclusion a ‘de facto Grexit’
6. Unsupervised voting
Advertiser Link
SMART WATER Project: Outputs and conclusions of the final conference
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.