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GreekReporter.comGreek NewsBloomberg: Greek Government Intends to Sell "Diaspora Bonds"

Bloomberg: Greek Government Intends to Sell "Diaspora Bonds"

According to an article by Bloomberg published on Thursday, the Greek government intends to sell “Diaspora bonds” in 2011. The country will follow the example of Israel and India by turning to 11 million loyal citizens living abroad to buy so-called “diaspora bonds”. Since Greece received a 110 billion Euro package of loans from the European Union and International Monetary Fund in May, it hasn’t managed to sell bonds with a maturity of longer than six months on regular markets since April. “The Diaspora has a lot of wealth and Greece has a sizable diaspora,” said Dilip Ratha, an economist at the Washington- based World Bank who has studied alternative financing.

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