Greek Bond Sale Had Huge Demand

Yes, you read that right. Greece has sold new bonds to international investors for the first time since its economy collapsed four years ago.
The Greek Finance Ministry said Thursday that it raised €3 billion ($4.2 billion) by selling 5-year bonds, its first debt issue since the eurozone country received €240 billion of bailout loans from the European Union and International Monetary Fund.

Demand was robust. Investors were ready to buy as much as €20 billion, analysts said.
It’s been a long and painful road to recovery for Greece. In a bid to stabilize its finances, the government has implemented deep spending cuts, sending unemployment rocketing to 27% — nearly six in every 10 workers under the age of 24 are without a job.

via CNN

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.