Wednesday, March 31, 2010

New trouble ahead for Greece

March 31 (Bloomberg) -- Greece plans to sell a global bond in dollars in the next two months as part of a plan to raise 11.6 billion euros ($15.6 billion) in funding by the end of May after investors lost money on its most recent sale.
Greece needs to borrow a total of 32 billion euros this year, including May’s amount, Petros Christodoulou, director general of the Public Debt Management Agency, said today in a Bloomberg Television interview. He declined to say how big the dollar issue might be. It may be between $5 billion and $10 billion, the Wall Street Journal reported, citing a Greek government official it declined to name...--
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Comment: Financial markets always go for the weakest, and among the many weak sovereign debtors, Greece is one of the weakest. There's the smell of rotten prey in the air.

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