The Minister of Finances Yannis Stournaras met with Prime Minister Antonis Samaras at his office in order to discuss Greece’s return to the markets. The likeliest scenario is for this to occur before Easter, although the latest developments may push things forward for the upcoming week.
The Japanese financial holding company Nomura Holdings estimates that the Baltakos scandal will affect the upcoming treasury bill issue, the distribution of primary surplus in May and the troika review.
Investment banks such as Deutsche Bank, Bank of America Merrill Lynch, JP Morgan and Goldman Sachs appear to have decided to underwrite the 5-year bond issue worth 2 billion euros, which is the first Greek government bond since 2010 and two since the infamous PSI. This bond issue will “test the waters” ahead of further issues in 2015, with a “full return” expected in 2016.
With the Greek economy appearing to well be on the way to recovery, investors are considering taking a Greek risk. The unexpected primary surplus and the coalition government’s commitment to further implementing changes have created a more stable and secure investment environment.
