Time is ripe for a 10-year bond issue, on certain conditions

The Finance Ministry is revisiting plans for a benchmark 10-year bond that have been frozen for over a year, with March looking likely for its issue.

The issue is expected to concern a small amount and to be conducted in a "safe" environment (as was the case in this month's five-year issue), mainly with the aim of improving the government's image, though the decision depends on several conditions that are far from certain.

Sources aware of the government plans say that three matters have to be settled before any issue of the country's first post-bailout 10-year paper: The approval by creditors of the new scheme for protect debtors' main residence, the ratification of the new framework for the reduction of nonperforming loans and a favorable decision by the March 11 Eurogroup on the completion of the second post-program assessment and on the disbursement of 1 billion...

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