Rising bond yields a concern, but not an immediate fiscal problem

Economy Tags: Debt, Markets
Photo by Panayotis Tzamaros/Fosphotos
Photo by Panayotis Tzamaros/Fosphotos

Greece’s rising bond yields have begun attracting attention domestically and internationally as the low-yield environment becomes a thing of the past. Although these developments are justifiably causing some concern, they should not at this stage be the cause of excessive anxiety, especially in the fiscal context.

Last August, Greece enjoyed the lowest ever yield on its sovereign debt, assisted by the loose monetary policy adopted by the ECB, which waived the minimum requirement for Greek bonds (GGBs) and included them in the emergency programme (PEPP) that was i...

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