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Misplaced Confidence in Greece

Fiscal Times, April 14, 2010: Greek Bailout Plan No Guarantee of Success

Greece saw a trickle of relief from its debt crisis Tuesday as it successfully raised $2 billion in the bond market without having to draw from the European Union’s financial bailout commitment. Although the government was forced to pay a relatively high interest rate of 4.55 percent for 26-week bills, analysts and the news media widely characterized the strong market demand for Greek bonds as a measure of investor relief after learning some of the details of the bailout plan over the weekend.

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