One more important move is expected from the government, which tries to change the climate forgetting the inner conflicts for the heavy taxation and the situation in the real economy.
Information indicates that the economic team is preparing for a new bond issue, this time 7-year, for purely technocratic and financial reasons on the one side with communication attributes on the other. The return of the country to the markets for a second time in 2014 is a familiar move, since it was announced by the Ministry of Finance as an intention. The unknown is the time, but information links the visits of international firms in Athens next week with this exit.
JP Morgan's role
In early July, the CEO of JP Morgan, Jamie Dimon, is expected in Athens. The third generation Greek banker will meet Antonis Samaras, with businessmen and Greek bankers. Bear in mind that, according to international media, Dimon was the man who in the summer of 2013 helped the Greek government to secretly pave the way for the return of the country to markets. At the same time it's mentioned that large international firms have already scheduled meetings with the leadership of the Ministry of Finance Greece and with the Public Debt Management Agency in Greece.
What's the target?
Greece needs 6 billion euros in August to pay maturing bonds. The two installments pending for June and July total 2 billion, so the government's goal is to get four or five billion euros from the seven-year bond, the lowest possible interest rate. Entering purely technical terms, Greece currently has bonds 5, 10, 15 and 30 years terms. These bonds are traded at this time in international markets. Those missing are the three-year and seven-year, as these are bonds that also "move".