Greek Economic Rebound: The Bond Boom May Be Short-Term Exuberance That Will Lead To Long-Term Pain

There was a time, not so long ago, when Greek bonds were given up for dead, along with the rest of the Greek economy. At the height of Greece’s economic crisis, in October 2011, trading volume in the secondary securities market for the country’s state-issued debt was zero. Fast-forward two and a half years: Much of the new narrative takes for granted that Greece is over the crisis. “Success ...

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