{"id":492659,"date":"2010-03-31T07:04:00","date_gmt":"2010-03-31T11:04:00","guid":{"rendered":"http:\/\/www.businessinsider.com\/greece-shorting-the-dollar-in-order-to-ease-its-debt-burden-2010-3"},"modified":"2010-03-31T07:04:00","modified_gmt":"2010-03-31T11:04:00","slug":"greece-shorting-the-dollar-in-order-to-ease-its-debt-burden","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/492659","title":{"rendered":"Greece Shorting The Dollar In Order To Ease Its Debt Burden"},"content":{"rendered":"

\"greece<\/p>\n

Greece apparently has more faith in the dollar — falling — than in its own currency the euro.<\/p>\n

The nation plans to issue over $70 billion of dollar-denominated bonds in order to fund itself.<\/p>\n

Given that Greece will be at the same time paying off maturing euro-denominated debt, the nation will effectively be tilting its debt mix more into dollars and away from euros.<\/p>\n

Which means they’ll increasing benefit from potential dollar weakness in the future.<\/p>\n

Reuters:<\/a><\/p>\n

Greece will issue a global U.S. dollar denominated bond in late April or early May, the head of the country’s debt agency (PDMA) said on Wednesday.<\/p>\n

Greece, with total borrowing needs of 53.2 billion euros ($71.43 billion) this year, faces a refunding hump in April and May as it rolls over maturing bonds, T-bills and pay coupons coming due.<\/p>\n

Rated A2 by Moody’s and BBB+ by Fitch and Standard & Poor’s, the overborrowed country has about 23 billion euros of debt maturing between now and the end of May.<\/p>\n

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