WSJ: Greece Plans to Issue Long-Term Bond on Wednesday

“Greece plans to issue long-term bonds on Wednesday, sources say”.

This breaking news was posted a few minutes ago on the website of  american newspaper Wall Street Journal.

If we consider the newspaper's publication as true, then Greece is ready to open up to markets, seeking lenders.

The important fact from the country's return to markets is not the amount of money which will flow into the country's coffers, but the acceptance of Greece as a coutnry which can borrow from “strict” financial systems who lend their money based on financial indicators and an economy's prospects.

The return to normality after four years of seclusion, of a country who was being seen as a broke “pariah”, is combined with German Chancellor Merkel's visit to Athens.
Government sources told protothema.gr that the plan was to open the “dealing” book tomorrow, on Wednesday, for it to then close on Friday.

The PDMA (Public Debt Management Agency) managed to achieve a 1.3 billion euro with a 3.01% interest rate, today. It is the lowest interest rate that Greece has borrowed since 2009.

The government's plan.

The amount to be sought by Greece will be small, with terms on the duration of registration, since the bonds to be issued are expected to have a 5-year duration.

All this is mentioned by government sources to protothema.gr, who were content to validate that the plan is to give the go ahead tomorrow. The “dealing book” is expected to close on Friday, when Mrs. Merkel is meeting with Antonis Samaras in Athens. The government hopes for a statement by the chancellor which will give markets a signal to indicate “invest in Greece”.

The ideal statement, as they stated to protothema.gr, to leave Mrs. Merkel's lips would be a placement according to which the head of the German government would underline that Greece has done all that it can to exit the crisis and that now would be the time for the international community and investors to “do the talking”.