Greece plans return to bond market as Athens sees end in sight to austerity
by Phillip Inman and Graeme Wearden from on (#2X9KS)
Successful issue of new five-year bonds would help crisis-hit country exit long cycle of austerity and bailouts
Athens 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.
Existing Greek five-year bonds were trading at 3.6% on Monday morning compared with 63% at the height of the Greek financial crisis in 2012 when the finance ministry was unable to pay public sector wages and there were riots in the streets. Following the announcement that Athens would be returning to the market, the yield fell to 3.4%.