By Tasos Dasopoulos Today, ODDIH proceeded with limited reissues of a 20-year and a 25-year PSI bond with fixed interest rates of 4% and 4.2%, in order to increase their liquidity, to confirm the presence of Greece in the markets and to give room for maneuver to the current holders of bonds. Particularly, today the […]
Tag: Debt
Goldman Sachs: Why Greek bond yields do not ‘threaten’ debt sustainability
Her Eleftherias Kourtali In anticipation of rising ECB interest rates, yields across the eurozone have risen sharply, bringing southern Europe’s debt sustainability back to the market, Goldman Sachs said in a report today. However, as he points out, even if the real growth prospects for Southern Europe remain vulnerable due to the energy crisis and […]
Fiscal flexibility with ‘German key’
By Tasos Dasopoulos Another headache for the financial staff and the effort to support the economy is brought by the activation of Germany in the EU fiscal course, with the intention expressed by the European Commission since March to extend the total escape clause in 2023. Germany agreed to extend the suspension of fiscal rules […]
Russia: We will serve our foreign debt in rubles if the US blocks any other way out
Russia will service its foreign currency debt obligations in rubles if the United States blocks other options, and will not declare a moratorium on payments, said Russian Finance Minister Anton Siluanov. Washington is considering blocking the possibility for Russia to pay for US-held bonds, leaving the May 25 deadline, which would bring Moscow closer to […]
The escape clause for Greece with a financial ‘cutter’
By Tasos Dasopoulos Competent sources of the Ministry of Foreign Affairs characterize the expected extension of the total escape clause for 2023 as more than a good development, since Greece – and other countries with high debt – will have to follow a tight fiscal policy even for support measures against accuracy. This signal was […]
Commission’s message on tight fiscal policy
By Tasos Dasopoulos Competent sources of the Ministry of Foreign Affairs characterize the expected extension of the total escape clause for 2023 as more than a good development, since Greece – and other countries with high debt – will have to follow a tight fiscal policy even for support measures against accuracy. This signal was […]
Growth of 3.5% for this year and 3.1% for 2023 is forecast by the Commission for Greece
By Tasos Dasopoulos The Commission forecasts growth of 3.5% for this year and 3.1% for 2023 in its spring forecast, confirming that next year the Greek economy will show a primary surplus of 1.3% of GDP, marginally higher than 1.1%. of GDP forecasted by the Ministry of Finance, seeing higher and inflation. In the general […]
Goldman Sachs: The Benefits and Risks of High Inflation – ‘Alarm’ for Debt Sustainability
Her Eleftherias Kourtali While higher inflation will help reduce pressure on debt sustainability, increasing bond yields makes debt service more difficult, Goldman Sachs points out. With the ECB approaching its first rate hike in light of persistently high inflation, bond yields have risen sharply in recent months. This, however, has the opposite effect on debt […]
‘Umbrella’ through Italy and for the Greek debt
By Tasos Dasopoulos The strong concern of the heavily indebted countries of the Eurozone has been caused by the bond yield rally that started in the last days of April for the whole Eurozone and especially for Greece, Italy, Spain and Portugal. The Greek ten-year bond has been trading since the beginning of the month […]
Eurobank Research: High, but better than expected, budget deficit in 2021
The budget deficit in 2021 was high, but better than expected, as noted by Eurobank Research in the latest issue of “7 Days Economy” published today, while emphasizing that the fiscal adjustment is necessary to cultivate positive expectations. According to Eurobank Research, “according to the 1st notification of ELSTAT for the financial data of the […]