Greece — once a debt pariah — is now being paid to borrow
Stark turnaround for the eurozone's most indebted member as it joins the negative-yield club
09 October 2019 - 17:51
London — Greece, the one-time pariah of the bond market at the heart of Europe’s sovereign debt crisis, just completed a transformative journey by joining the region’s negative-yield club.
Investors are now paying for the privilege of lending it cash. A sale of €487.5m of 13-week bills on Wednesday drew a yield of minus 0.02%. Greece joins the likes of Ireland, Italy and Spain in benefiting from the European Central Bank’s (ECB) supportive monetary policy and deepening fears of a global recession...
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