Friday, March 12, 2010

Greece - dates to watch coming up $NBG

Greece - dates to watch coming up

· Mar 15-16 - European FinMins meet in Brussels & European Commission will publish its first update on Greece's progress to reduce deficit – both occuring on Mar 15 (Euro region ministers meet in Brussels on March 15 and will be joined by the rest of the EU the next day; Ecofin meets on Tuesday. The Eurogroup meets on Monday evening). The idea of a European Monetary Fund won’t be discussed at this meeting. European Union finance ministers will discuss whether any Greek bailout should be funded by issuing EU bonds guaranteed by euro region governments. Another option would be for governments in the 16- nation bloc to give Greece loans to help the country finance its budget deficit. EU ministers will also discuss whether the mechanism used in any Greek bailout should be formalized for use in future crises or whether they should just be a one-off – Bloomberg

· Mar 16 - Strike - Greece's biggest public sector union ADEDY plans a 24hr strike on Mar 16
· Mar 18 – NBG reports earnings (National Bank of Greece)
· March 24/26 - EU head of state Summit meeting
· April 20 - Bond redemption for E8.22 billion
· May 10 - Coupon payment for E2.278 billion
· May 19 - Bond redemption for E8.086 billion.
· Greek bond sales - The Greek government will seek to raise a further EUR10 billion through one or two bond issues in March, and between $5 billion and $10 billion through a separate offering targeted at investors in the U.S. and Asia (DJ)

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