Greece passed another post-bailout era milepost on Monday, as the country’s five-year bond yield fell below zero for the first time, following European Central Bank’s decision late last week to continue the pace of its debt-buyback stimulus program wetted investors’ appetite for “riskier” euro-zone securities.
According to Bloomberg, “..the move means that investors are in effect prepared to pay Athens to borrow for up to half a decade, despite debt levels that have soared to more than 200 per cent of GDP during the pandemic.”
