{"id":9844,"date":"2026-06-10T07:27:00","date_gmt":"2026-06-10T04:27:00","guid":{"rendered":"https:\/\/en.tomanifesto.gr\/?p=9844"},"modified":"2026-06-10T07:27:00","modified_gmt":"2026-06-10T04:27:00","slug":"the-greek-state-enters-the-markets","status":"publish","type":"post","link":"https:\/\/en.tomanifesto.gr\/?p=9844","title":{"rendered":"The Greek State enters the markets"},"content":{"rendered":"

The Greek Greek Government is likely to go on the market<\/a> later today with the re-issuance of the 10-year bond<\/b>, two days before the ECB moves to raise interest rates for the first time this year.<\/p>\n

As announced yesterday by the Office of Public Debt Management (O\u0394\u0394H)<\/b>, the Greek government has instructed the banks Alpha Bank, Barclays, Citi, Commerzbank, Nomura and Societe Generale<\/b> to proceed with the reissue of the 10-year bond due June 16, 2036.<\/p>\n

The borrowing program for the first half of 2026 published by O\u0394HH included a reissue of the bond on June 17<\/b>. These planned government “exits” to the markets are not so much aimed at raising additional liquidity as at strengthening the Greek securities curve and stimulating the secondary market.<\/p>\n

In any case, although bond purchases in Eurozone are moving under pressure created by the apparent intention of the European Central Bank (ECB) to raise its interest rates by 0.25% on Thursday 11 June, the Greek market is showing resilience. It is indicative that the yield on the Greek 10-year bond in the secondary market is hovering at 3.77%, and is only 0.78% higher than that (3.07%) of the corresponding German security.<\/p>\n

However, data released yesterday by Eurostat show that Greece’s public debt servicing costs are among the lowest in the eurozone.<\/b><\/p>\n

Specifically, servicing costs fell marginally in 2025 to 2.18% from 2.27% in 2024, a development that reflects the long maturity and specific structure of Greek debt. However, according to data published by the Public Debt Management Agency, the cost of servicing public debt (general government) at end-March 2026 was 1.38% on a cash basis including swaps<\/b> and 1.84% including swaps plus deferred interest on EFSF loans.<\/p>\n

In most EU member states for which data were available, the apparent cost of servicing government debt increased slightly or remained stable between 2024 and 2025.The highest apparent cost of gross general government debt among the countries for which data were available was recorded in Romania (5.2%), followed by Poland (4.5%), the Czech Republic (3.1%) and Italy (3.0%). The lowest apparent cost of debt was observed in Ireland (1.4%), followed by Luxembourg (1.5%), the Netherlands (1.7%), Germany (1.8%) and France, Finland and Sweden (all +1.9%).”<\/p>\n

Remember that of the 400 billion euros of public debt (central government) <\/b>73%, or about 292 billion euros, is mh negotiable, as it relates to loans that our country has received from other EU countries.EU countries or financial institutions such as the ESM and EFSF, under the Memoranda.<\/p>\n

Last week, the ESM and EFSF gave the government the green light to proceed with early repayment of GLF<\/b> loans of \u20ac6.94 billion, initially maturing in the period 2029-2035, using the cash reserves of the so-called “hard cushion”.<\/p>\n

Last week, the ESM and EFSF “gave the green light” to the government to proceed with early repayment of GLF<\/b> loans of \u20ac6.94 billion, initially maturing in the period 2029-2035, making use of the cash reserves of the so-called “hard cushion”. Recall that the Greek Loan Facility (GLF) was part of the first support package to Greece in 2010 and included bilateral loans from 14 eurozone countries, totalling \u20ac52.9 billion, of which some \u20ac26.3 billion remain outstanding.<\/p>\n

This repayment is considered the second largest early GLF repayment to date, after a similar move in 2025.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Greek government is likely to enter the markets later today with the re-issuance of the 10-year bond, two days before the ECB proceeds with the …<\/p>\n","protected":false},"author":1,"featured_media":9845,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-9844","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"acf":[],"_links":{"self":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/posts\/9844","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9844"}],"version-history":[{"count":0,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/posts\/9844\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/media\/9845"}],"wp:attachment":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}