Greece posted a new record at the reopening of its 10-year bond on Wednesday, with the investment community granting it a strong new vote of confidence.


The Greek state will likely reopen its 10-year bond issue from January on Wednesday, market conditions permitting, in a carefully thought-out move. the Public Debt Management Agency (PDMA) has since April been planning to make the most of the favorable conditions in the market that have brought the Greek-German bond spread to its lowest level since 2008.


Featuring record participation, the 10th Greek Investment Forum in New York opens on Tuesday, organized by Hellenic Exchanges-Athens Stock Exchange and the American-Hellenic Chamber of Commerce, Hellenic Exchanges CEO Socrates Lazaridis told Kathimerini.


The suspension of fiscal rules for another year, up to 2023, creates opportunities as well as risks for European Union countries. Analysts tell Kathimerini that while this extension is necessary, some states run the risk of suffering long-term problems, even when the economy reverts to reality.


Although the two sell-offs that have struck the bonds market in the eurozone since the start of this year have put upward pressure on the yields of Greek bonds too, they have also led to the reduction of the distance between the interest rates of the Greek and the German debt, known as the spread.


The silence from Moody’s last Friday, when it was supposed to issue its latest report and assessment on Greece, constitutes neither a surprise nor a negative sign.


The Greek state debt may be high but it remains sustainable, the head of the European Stability Mechanism Klaus Regling reiterated on Thursday, stressing that the increase of budget deficits and debt in eurozone countries has been the right response to the pandemic.


Greece successfully tapped the bond markets on Wednesday for the third time within 2021, as its five-year issue drew bids of more than 20 billion euros and secured a very low interest rate of just 0.20%, down from an original guidance for 0.28%.


Greece’s front-heavy bond issue program makes sense, as it capitalizes on the major support of the European Central Bank’s extraordinary bond-purchase program (PEPP), but even after that its credit rating will not suffer, analysts have told Kathimerini.


Greece shouldn’t worry about the European Central Bank’s termination of its extraordinary bond-purchase program (PEPP) next March, as the reforms it has pledged to continue with the support of the Next Generation EU recovery fund should suffice to assist its market presence, leading international analysts on Greece tell Kathimerini.


Eurobank is set to issue a 500-million-euro bond on Wednesday, so as to make the most of the positive climate brought about by the upgrading of Greece’s credit rating by Standard & Poor’s, combined with Piraeus Bank’s successful share capital increase.


As of this summer, if the vaccination targets are met, the Public Debt Management Agency will keep creating excess liquidity at every opportunity to finance further moves for the optimum management of the national debt.