The first Greek sovereign bond in four years proved especially popular with investors from Europe and the US.
An OECD report shows Greece’s economic crisis has been costly to workers whose total tax amounts to 41.6% of the labor cost.
Bank of Greece chief George Provopoulos said the economic recovery he’s been predicting for several years is now finally at hand.
Another piece of Modern Greece’s cultural heritage, the little street kiosks known as Periptera, will become a thing of the past.
Greece has taken a “decisive step to exit the crisis,” Prime Minister Antonis Samaras said after the sale of a five-year, 3 billion euro bond.
Buoyant Greek officials hailed the country’s return to the international debt market after four years as an overwhelming success, with investors snapping up the five-year bond in a sale that was eight times oversubscribed. The Finance Ministry said it had raised 3 billion euros ($4.14 billion) with a 4.75 percent rate, better than the 5 percent goal.
Markets in Europe traded in fairly narrow ranges April 10 as the successful return of Greece to bond markets following a four-year absence.
Greek Finance Minister Yannis Stournaras said the country’s first bond in four years is proof a crushing economic crisis is almost over.
Greece’s first sovereign bond four years has come with a 3 billion euro five-year instrument that brought a yield of 4.95 percent
Greece has confirmed that it is tapping international bond markets for the first time in four years, since seeking international bailouts. It’s expected to be for five years and 2.5 billion euros as the government tests the waters for a full-fledged return to the markets.