Greece ‘Postpones’ Launch of 7-Year Bond

Greece’s finance ministry has decided to postpone the issuing of the seven-year bond scheduled for Tuesday due to the turbulence in international money markets.

Reports suggest that the ministry was advised to delay its move to avoid unnecessary risks as world stock markets reeled after US shares suffered their biggest one-day fall in six years.

Greece was aiming to raise €3 billion ($3.7 billion) in the next few days as a step towards the country building a cash buffer of up to €19 billion to cover debt repayments after it exits the bailout program in August.

The debt-laden nation, which has relied on rescue loans since 2010, seeks to return to normal market financing.


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