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This paper studies the mechanisms through which bank and sovereign distress feed into each other, using a large sample of emerging market economies over three decades
Authors: Irina Balteanu (Bank of Spain) and Aitor Erce (European Stability Mechanism)
Abstract:
Greek debt levels are no longer cause for alarm
Op-ed by Klaus Regling, ESM Managing Director
Published in Financial Times, 9 February 2017
Luxembourg - The European Financial Stability Facility (EFSF) on Monday raised €1.5 billion in a new benchmark 26-year bond.
“With today’s deal, the EFSF filled another gap in its outstanding bond curve. The size allows for the bond to perform in a challenging market and gives the EFSF a chance to add liquidity with a tap later,” said Siegfried Ruhl, EFSF Head of Funding and Investor Relations.
The spread of the 1.7 percent February 2043 bond was fixed at mid-swaps plus 30 basis points, implying a reoffer yield of 1.717 percent.
Constantinos Karamanlis Hall - European Cultural Centre of Delphi
Can the Eurozone’s emergence from crisis turn into a real economic recovery and a new vision for Europe’s future? Or is Europe heading for a “lost decade” in terms of growth and a rise of eurosceptic populism?
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Brussels, 1 February 2017 Please check against delivery
Ladies and gentlemen,