The Crucial Test Arrives: Greece To Issue 10-Year Bond Next Week

The Greek endgame could be in a matter of days.

WSJ is reporting that the country will test the market with a 10-year bond offering next week.

The country had hoped to sell into the market this week, but downgrade threats and the general strike put that on hold.

According to the report, Greece will announce some kind of “good news” next week relating to tax hikes and cost cutting, and then the hope is that the bonds can be sold immediately after that, riding that wave of positive feelings. Possible tax hikes include a hike in the VAT as well as a higher fuel tax.

The deal drop-dead point for Greece will come in the coming months, as the country needs to €22 billion to roll over debt that matures in March and April.

Read more at WSJ >

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