Tapping the markets would make sense, say experts
Greece’s bond yields have eased from a year-high recorded in March, but remain above the all-time lows posted earlier this year.
In its latest weekly bulletin, the Hellenic Federation of Enterprises (SEV) went as far as calling for an immediate market foray, before other bigger countries do so, with an impact on yields.
Nikolina Kosteletou, economics professor at the University of Athens, agrees: “It would make sense to make such a move now, as later on it may be more difficult. More countries may well rush to the markets as the crisis rages and therefore yields may move higher,” she told Xinhua on Tuesday.
Dimitris Kenourgios, associate professor of finance at the University of Athens, appeared more reserved on an immediate bond issue: “I am a little concerned with such a timing. The yields may have fallen from recent highs, but not as low as they had dropped before the outbreak of the health crisis.”
He did concede, however, that “although there are no immediate needs, there is expenditure that will be made in the months to come which will open a hole in the budget. If there is a real problem in the coming months, then it would make sense to tap the markets.”
[Xinhua]
