Greece was forced to borrow money to pay back the money
Greece's public debt management agency said, will be auctioned on Tuesday worth 3.125 billion euros in the period of 13 weeks of government bonds, the two highest non-competitive tender will allow the amount of financing to reach 5 billion euros.
Has accepted the two external financial assistance of the Greek government finances is extremely worrying, but the short-term debt is recognized by the European Central Bank collateral, many people still have a more optimistic attitude, the auction is expected to get a good market demand . Greek banking industry eager to take advantage of the European central bank emergency liquidity tool will also actively subscribe for the bonds issued Tuesday.
Just last week, Greece has just released a period of 26 weeks of treasury bonds to finance the ? 1 billion. If this week is successful fund-raising 5 billion euros, Greece will be able to on time and quantity to the creditor to repay the loan and meet the general financing needs.
Greece The reason had to bite the bullet once again to the private sector "borrow", Greece August 20, must repay a debt of 3.1 billion euros, the European Central Bank is the principal debtor. According to an analyst at Royal Bank of Canada (RBC Capital Markets in New York), the debt must be repaid including the interest costs of ? 670 million.
Last month, the Greek government had foreign creditors to seek a "bridge loan" to meet the financing needs before September. But because of the euro area countries declined to provide bridge loans for Greece, Greece had to increase the size of the auction of government bonds to fund-raising.
The so-called "bridge loans" refers to the financial institution A to get the loan project itself due to a temporary shortage of funds are not capable of classification, so to find a financial institution B to discuss it help the disbursement of funds, etc. A financial institution funds, B to exit. The loan is for B, the so-called bridge loan.
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