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Greece

Greece Expected to Tap Financial Markets With New 10-Year Bond

Greece will very soon seek to pump additional money from global markets in an effort to capitalize gains made on the historically-low interest rates that the country has been enjoying over the last several months. Greek authorities have requested the major...

Greece Returns to Financial Markets by Selling €3Bln Bond at 4.62%

Greece has made a return to the financial markets, by selling €3 billion worth of its new five-year bond, at a yield (or interest rate) or 4.625%. That’s lower than the 4.95% that Greece last sold five-year bonds for, in...

April 23, 2010: Ten Years Since the Official Beginning of the Greek Financial Crisis

It was a day much like this on April 23, 2010, when the then-Prime Minister of Greece George Papandreou announced from picturesque Castellorizo Island that Greece would officially ask for financial assistance from its fellow Eurozone member-states as the...

Greece Draws €2 Billion From Capital Markets After Successfully Issuing 7-Year Bond

Athens drew €2 billion from international capital markets on Holy Wednesday, following the successful issuance of seven-year syndicated bonds. Greece "has accessed global markets today, through adverse social and economic conditions created globally by the pandemic, and succeeded," Finance Minister...

Greece Launches 15-Year State Bond, Signaling Return to Financial Normality

Greece's Public Debt Management Authority announced the launch of a 15-year state bond in a statement released on Monday. The announcement came just 48 hours after the credit rating agency Fitch upgraded the country's credit rating to BB from BB-. This...

The Greek Man Who Brings Light to The World's Most Beautiful Christmas Markets

Giannis Paleochorinos is a Greek businessman who has, over the course of decades, become the man whose business supplies the most spectacular Christmas markets of the world with their most valuable element: lights. Christmas is the time of the year...

Greece's Economy Establishes Positive Outlook in Global Markets

Greece's economy has slowly but steadily entered the zone of seeing its solvency being upgraded by major global credit rating agencies, after several years of a financial meltdown and harsh conditions. Following the recent upgrades of its solvency and its...

Greece Plans Return to Markets With Five-Year Bond

Greece's debt agency announced the country's return to the bond markets on Monday, with a five-year syndicated issue of the financial product. The bond issue will be launched “in the near future, subject to market conditions”, authorities said in a...

Italy's Financial Problems Might Affect Greece, Foreign Minister says

Italy's financial troubles might affect Greece too, said Greek Foreign Minister Nikos Kotzias on Tuesday, during a meeting with his German counterpart Heiko Maas. According to Reuters, while in Berlin for bilateral talks between Greece and Germany, the Greek foreign...

Capital Markets Watchdog Looks into Folli Follie Share Plunge

Greece's capital markets watchdog has asked retailer Folli Follie to appoint an independent auditor to check over its 2017 financial reports after an equity fund accused the Greek company of overstating how many selling points it has worldwide. Last week,...

Greek Retail Sales Drop Affecting Supermarkets in November

Compared to other retail sectors, supermarket sales in Greece have been relatively unaffected all through the financial crisis. New data by the Greek Statistical Authority (ELSTAT) for November 2017 though, shows that even everyday item sales have dropped. Retail sales in...

ESM Chief Regling: Greece Can Tap Markets in 10 Months, if it Implements Reforms

"Greece can exit the current aid programme in 10 months and be financed independently through the markets, if the government adheres to the agreed reforms to strengthen growth and employment," Klaus Regling, head of the European Stability Mechanism (ESM),...

Tsipras Hails Greece's Return to Markets; EU's Moscovici Urges Implementation of Reforms (video)

Greece sold debt to private investors for the first time in three years, an upbeat Prime Minister Alexis Tsipras hailed what he called a "special day." At his meeting in Athens with EU Commissioner Pierre Moscovici, Tsipras that “it is...

Greece's Return to Markets Met with Cautious Remarks from International Press

Greece's return to tapping the international bond markets for the first time since 2014 is met with mixed remarks from the international press. In its electronic version, German magazine Spiegel reports on Greece's test run on markets as follows: "Return...

Greece's Return to the Markets 'May be Imminent', Reuters Says

Greece could return to financial markets in the next few weeks, investors and bankers close to the discussions told Reuters. Greek finance minister Euclid Tsakalotos met with investors in London last month and one of those funds, BlueBay Asset Management,...