Successful issue of new five-year bonds would help crisis-hit country exit long cycle of austerity and bailoutsAthens has outlined plans to return to the financial markets for the first time since 2014, with a plan to sell new five-year bonds to investors. Following the announcement that Athens would be returning to the market, the yield fell to 3.4%. The Greek finance ministry has set a goal of a 4.2% interest rate on the new bond. Greek ministers will provide more details on Monday afternoon about how much it hopes to borrow, and on what terms. Moscovici said the “140 extremely courageous reforms” undertaken by Athens meant there was now hope of “finally finding a solution to the debt problem”.

Source: The Guardian July 24, 2017 13:28 UTC