Comments Subscribe to Personal Liberty News Feed Subscribe to Personal Liberty

Greece Will Resume The Sale Of Long-Term Bonds

ATHENS, Greece (UPI) — Greece will come out with a five-year bond issue for the first time since it was granted an international bailout of €240 billion bailout four years ago.

The Greek Finance Ministry said Wednesday that the government had reached out to international banks “for an imminent five-year bond issue.” The officials gave no details about the size and time of the offering, but Greek news media said it could be €2.5 billion, or $3.45 billion, and the offering could begin as early as Thursday.

“The transaction is to be priced and to take place in the immediate future,” the Finance Ministry statement said.

The bond offering comes as more than 20,000 people took to the streets of Athens protesting their economic plight and the strict fiscal austerity measures imposed by Prime Minister Antonis Samaras’ government.

Protesters were heard chanting: “EU, IMF take the bailout and get out of here!”

“This is our answer to the dead-end policies that have squeezed workers and made Greek people miserable,” the private workers’ union G.S.E.E. said in a statement. “We are striking and fighting to put an end to austerity.”

The announcement also coincides with German Chancellor Angela Merkel’s visit to Greece. Germany had been central to the bailout package provided to Greece four years ago, as the country teetered toward bankruptcy. It was tough love from Germany that led to many of the austerity measures imposed in Greece.

“The chancellor has repeatedly said publicly how much she admires the path taken by the Greeks and how aware she is that this was a difficult path for many people in Greece, but one that is now showing results,” said Steffen Seibert, the spokesman for Merkel.

The financial crisis meant that Greeks lost nearly a third of their disposable income and led to a protracted recession and very high employment rate of 27.5 percent.

In the past few months other euro zone countries, including Ireland and Portugal, have returned to the bond market, marking a symbolic turnaround for the region. Buyers showed no hesitancy in purchasing bonds in the two countries, with yields falling considerably since the height of the crisis.

UPI - United Press International, Inc.

Since 1907, United Press International (UPI) has been a leading provider of critical information to media outlets, businesses, governments and researchers worldwide.

Facebook Conversations

Join the Discussion:
View Comments to “Greece Will Resume The Sale Of Long-Term Bonds”

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.

Is there news related to personal liberty happening in your area? Contact us at


Sign Up For Personal Liberty Digest™!

PL Badge

Welcome to,
America's #1 Source for Libertarian News!

To join our group of freedom-loving individuals and to get alerts as well as late-breaking conservative news from Personal Liberty Digest™...

Privacy PolicyYou can opt out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.