Fx trading News: Greek 10-year government bond yields fell below 1% for the first time!
2020-02-14 13:45 from：CAPSTONE author：Jack
Capstone Forex Trading News:According to foreign media reports, the yield on Greek 10-year government bonds fell to below 1% for the first time in the history of the 12th. Analysis believes that this has led Greece to call on international borrowers to relax their strict fiscal requirements.
Greek 10-year government bond yield fell to 0.957% on the 12th. Greek Prime Minister Kiriakos Mizotakis tweeted that what once seemed impossible was now achieved. Mizotakis said that Greece is now on the growth track and will provide huge growth potential and opportunities for global investors. Greek Finance Minister Christos Staikolas said that the continued decline in Greek government bond yields proves the market's confidence in the Greek economy and the government's economic policies.
Gustachelas said on the 12th. The Greek government hopes to achieve higher economic growth, create more employment opportunities and strengthen social cohesion. Greece's center-right government is working to improve economic growth to bring its sovereign debt rating to investment grade and to finance the market at a lower cost. The Greek government hopes to prove to international borrowers that Greece can achieve debt sustainability even with looser budget restrictions on Greece.
The Greek economy, which was plagued by the debt crisis, is recovering. In August 2018, Greece announced its withdrawal from the eight-year bailout plan and began to return to the international bond market. In August 2019, Greece announced the complete abolition of capital controls and began to resume normal capital flows in September. According to the 2020 budget passed by the Greek parliament at the end of 2019, Greece's economic growth target for 2020 is 2.8%, and fiscal surplus will account for 3.58% of GDP.
希腊 Between 2010 and 2018, Greece received three rounds of huge aid from international aid agencies. These aid agencies include the International Monetary Fund (IMF) and the euro area aid funds. As a condition for accepting aid loans, Greece has promised fiscal austerity measures to help maintain debt balance. Many austerity measures, including tax increases and pension benefits, have caused grievances among the Greek public, and the Greek government hopes to help boost the economy through fiscal stimulus.
At present, Greece's public debt accounts for about 180% of GDP, which is still much higher than the level of 60% stipulated in the EU Stability and Growth Pact. However, there are reports that the EU has begun to consult on changes to these fiscal discipline rules, and a draft will be issued before the end of this year. Last week, European Commissioner Paul Gentiloni said in Greece that the EU is willing to discuss the issue of easing Greek fiscal discipline, but will not make a decision until the second half of this year.
Although Greece's 10-year Treasury yield has fallen to historical lows, it remains the highest among the 19 countries in the Eurozone. At present, Italian long-term government bond yields are similar to Greece. Over two-thirds of the eurozone's long-term government bond yields are negative, including countries such as Germany, France, Belgium and the Netherlands. But Greek government bonds have also been favored by investors for their positive yields.
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