Five billion euros cited in 2018 Greek draft budget from bond issues

5 October 2017
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Bond issues worth five billion euros within 2018 are foreseen in the draft budget for the year, which was tabled in Parliament on Monday.

Such a prospect would increase the country’s exposure in the bond market from 52.18 billion – as of 2017 – euros to 57.28 billion euros. Greece’s exposure in 2013 was 76.296 billion euros, a figure that eased due to maturing bonds being paid off and no new issues taking place, except for two market forays in 2014 – a year before the “annus horribilis” of 2015.

Expectations that more market “tests” are in store for 2018 refers directly to the end of the third memorandum in August 2018, which means that the leftist-rightist coalition government will be cut free from a guaranteed low-interest credit line from institutional creditors – primarily the ESM – but with a continued supervision by creditors of its fiscal condition and policies.

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