New bond issue considered within July

Greece is ready to make its next foray into the money markets this month, with the Public Debt Management Agency (PDMA) just waiting for a nod from the new government as low bond yields not only allow but also demand such an initiative.

PDMA technocrats believe that the right time to tap the markets is from next week up to end-July and possibly the first half of September. After that point, negotiations with Brussels ahead of Greece's fourth post-bailout assessment would not allow any secure forecasts, as there could be turbulence on the horizon. The technocrats argue that the sooner the bond issue is made, the better.

Reuters reported on Monday that officials from two banks that are key negotiators said the issue could even take place this week, but PDMA believes it makes more sense to avoid such a rush.

Sources say that PDMA had already prepared for a new...