Greece had one of the highest tax burdens on labor income last year, ranking 11th among the 34 member states of the Organization for Economic Cooperation and Development, according to an OECD report published on Friday.
Greek bond yields rose on Friday as investors booked profits on the rally that preceded Greece's return to debt markets, with even its sought-after new five-year bond succumbing to selling pressure.
Greek bond yields rose on Friday as investors booked profits on the rally that preceded Greece's return to debt markets, with even its sought-after new five-year bond succumbing to selling pressure.
Europes worsening growth prospects are losing significance for bond investors as bets the European Central Bank will begin asset-purchase stimulus measures boost demand for the regions higher-yielding bonds.
Greece's imminent return to bond markets just two years after a massive debt restructuring, expected as early as Wednesday, lifted investor appetite for riskier credits which has stalled over the last couple of days.
Greek lenders success last month in raising funds from foreign investors shows the government can reach its goal of returning to bond markets, said George Provopoulos, the countrys central-bank chief.
Greece is preparing a property portfolio valued at as much as 500 million euros ($689 million) to offer to investors by the end of this year, according to the head of the Hellenic Republic Asset Development Fund.
Greeces planned bond-market return, heralded by lawmakers as evidence of renewed confidence in the nation, will also highlight the progress thats needed before its rehabilitation is complete.
Greece is planning to announce a sale of five-year notes via banks on Wednesday, according to two people familiar with the matter, as the country that sparked Europes sovereign debt crisis returns from a bond-market exile.
Greece on Tuesday sold six-month treasury paper at the cheapest borrowing cost since its debt crisis began in early 2010, most of it to foreign buyers.
The sale will act as a fillip to a planned return to longer-term bond markets in the first half of the year after a four-year absence.
Antonis Samarass mission to end Greeces exile from bond markets faces a reality check this week as data shows how deeply the economy remains mired in deflation with the worst jobless rate in the euro area.