New Greek National Debt at 10 years has been finally pulled into the market, the emission was a proof to set the reliability of the markets on Greek National Debt. The good new is than in just two hours the demands reached € 15.500 million, the triple of the amount expected.

During all this year, Greece has only made a bond emission. It was in mid January, just before the fears of the market on the Greek National Debt and the high fiscal deficit of Greece , the the country pulled €8000 million at 5 years.

The objective, is spread €5000 million in bonds at 10 years. The analysts expected that the price could be around 310 basic points over midswap, the reference index of that kind of emissions.

The first figures from the demand, have allowed to reduce the expectations about the final price of new Greek National Debt emitted, to 300 basic points over midswap. According sources from the Greek government, the emission of Greek National Debt was closed in just two hours, when reaching €15.500 million,three times more than the amount expected. The interest rate of these bonds could be around 6,4% according Reuters.

This amount of demand, softened the peak reached by the interest rate of Greek National Debt.

The Greek National Debt needs to be refinanced between April and May by a value near €20.000 million, and by €53.000 million during the whole year.

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3. The International Monetary Fund will asses on the Greek National Debt

A team of specialists from the International Monetary Fund will asses the Greek government to find ways to reduce its high level of National Debt and solve this complicated economic situation.

The members From the International Monetary Fund will remain in Athens around a week since tomorrow, when they are scheduled to arrive. However, the organization presided by Dominique Strauss-Kahn didn’t speak about a possible financial aid to Greece.

This team will analyze “possibilities for the International Monetary fund to dispatch technical assistance, about the pension reformation, tributary policy and administration, and budget administration” according the spokesman of the International Monetary Fund informed.

The Economic plans of Greece are being questioned and the government of the country wants to convince the European Investors and the Stranger Investors that they are able to reduce deficit and national debt. Nowadays, Greek public accounts are the worst in all the European Union and the fear of a worse crisis is increasing.

Greece treasures a big national debt

Last year, the Greek national debt close with a deficit equal to 12,7% of the Gross Domestic Product (GDP), what increased his national debt to 113% of GDP. Furthermore, the fear of a possible bankruptcy of Greek accounts is still alive, and specially since the recent crisis of Dubai.

The International financial risk qualification agencies itself, trimmed the rating of Greece, making the Greek national debt more expensive.

At the same time a spokesman of the International Monetary Fund visited the Arab Emirates (AEU),to get informed about the current situation of the economy in the country. The results of the report will be delivered to the Executive Committee from the International Monetary Fund, that will analyze them next weeks.

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