Greece to issue T-Bills mid-July

June 28, 2011

Market test: could be a "good idea" or could "end in disaster"

From Reuters article by Lefteris Papadimas and Ingrid Melander:

"Greece said on Monday it would issue T-bills in mid-July to cover maturing debt, a bold but risky test of market appetite in its first auction since securing a mammoth EU and IMF bailout last month.

The debt-choked country is not expected to issue longer-term debt before 2012 but is allowed to issue T-bills, which have shorter maturities, under the terms of the 3-year, 110-billion euro ($136.1 billion) emergency funding programme.

"It could prove in the end to be a good idea but it could also end in disaster," Carsten Luedemann, fixed-income strategist at DekaBank, said.

...Analysts said that investors could show interest in T-bills, despite a sell-off of bonds, since they carry less risk. "Buying such short-term debt is relatively safe for investors," said Kornelius Purps, bond analyst at UniCredit. "I think it will be a relatively successful auction, in the sense that Greece will be able to place all its debt volumes."

Official Greece web sites

Hellenic Republic Official Website [Greek]

Greece Civil Protection Agency [Greek and English]

National Organization for Medicines in Greece [Greek]

Hellenic National Public Health Organization [English]

City of Athens [English] — City of Athens [Greek]

Greece Certificate of Movement download forms (coronavirus shutdown) [Greek]

Greek Employee Support Link – Greek Government [Greek]

Greece's Golden Visa program

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