The presence of the European Central Bank in the Greek bond market will continue until the end of 2023, regardless of what will be decided for the emergency bond market program of the pandemic (PEPP).
According to ECB Governing Board member Philip Lane in an interview with Reuters, the ECB will reinvest the bonds in its portfolio under the PΕPP program, which expire at least by the end of 2023.
“Consequently, there will be a sufficient presence of the ECB in the Greek bond market through the pandemic program (PEPP), regardless of what will happen with the regular program of buying bonds APP (Asset Purchase Program)” as he stated characteristically.
Greek bonds participate in the PEPP program but not in the APP program, as Greece does not have the required creditworthiness.
Guarantees
In general, as the ECB official explains, ensuring favorable financial markets favors the bond market as a whole, and the benefit is not limited to bonds purchased by the Central Bank.
According to Mr. Lane, the participation of Greek bonds in the pandemic program was quite an important development, as the risk of recession was quite high due to the crisis caused. In this context, the PEPP program worked effectively.
He declined to comment on whether the ECB plans to increase the APP program after the pandemic program is completed in March 2022.
Latest News
Global Citrus Production Declines – Greece’s Outlook
In Greece, specifically, orange prices increased by 30.18% this Sept.
NATO Secretary General Rutte to visit Greece
Former Dutch PM Mark Rutte, the Alliance's new chief will first visit Ankara a day earlier to meet with Turkish leadership
PM Mitsotakis from Naxos: Decarbonization Fund to Facilitate Islands’ Green Transition
“The resources will help connect the islands to the mainland's electricity grid," he noted.
Retail Sales in Greece Up 0.8% in Q4 2024: ELSTAT
Retail businesses in the food and fuel sectors posted a turnover of €6.82 billion in Q3 2024, a 1.2% increase compared to €6.73 billion in Q3 2023
September in Greece Winning Tourists Over from US, Germany
Tourists continue to visit Greece off-season into Sept. with the number of inbound travelers up by 6.6% and a 7.9% rise in travel receipts.
Bank of Greece Governor Says EU will Retaliate to Trump’s Tarrifs
The Bank of Greece Governor defended the independence of central banks amid criticism from U.S. President-elect Donald Trump, who had publicly commented on Federal Reserve Chair Jerome Powel
September in Greece Winning Tourists Over from US, Germany
Tourists continue to visit Greece off-season into Sept. with the number of inbound travelers up by 6.6% and a 7.9% rise in travel receipts.
Bitcoin Surges Toward $100K Amid Pro-Crypto Optimism in US
According to Reuters, the cryptocurrency surged to an all-time high, briefly exceeding $96,898 during Asian trading hours.
Greek Driver Violations at a Touch of a Button
Traffic offences recorded in the last five years by Greece’s “Driver Behavior Control System” are now available on Gov.gr Wallet
Milan Tops List of Most Expensive Streets, Athens’ Ermou Holds Steady at 15th Place
In Athens, following Ermou Street is the southern suburb of Glyfada and Tsimiski Street in Thessaloniki.