Greece is set to return to the bond markets for the first time in four years, a key signal that its crisis-hit economy is welcomed once more by investors.
“Greece is back,” analysts at Credit Suisse proclaimed. After a gruelling austerity program under the terms of its two bailouts international lenders, and possibly more importantly European Central Bank President Mario Draghi’s pledge to do “whatever it takes” to save the euro, Greece is no longer talked of as the first country likely to leave the single currency.
The country is expected to auction around 2 billion euro ($2.78 billion) worth of five-year debt. The yield is expected to be around the 5.4 percent mark, a better investment return than the current 4.79 percent, as authorities want to offer a little sweetener to investors, according to CNBC sources in Athens.