Greece: Europe's Bond Market Superstar
Progress on its debt burden has fueled massive tightening in yields versus German debt
Source: Bloomberg
The pot of gold at the end of the rainbow would be inclusion into the ECB's bond purchase program -- Greece has long been excluded since it's not rated investment grade. A shift in the rules would be a reward for budget discipline.This has looked until recently like a long shot, but a tectonic shift in attitude is underway. A recent piece of evidence for this is a remark from ECB policy maker Benoit Couere on Tuesday. According to Reuters, he said that Greece can maintain a 3.5 percent primary budget surplus to GDP for years after the current bailout ends in 2018 -- that is a major vote of confidence.
https://www.bloomberg.com/gadfly/articles/2016-12-02/here-s-a-greek-twist-on-italy-s-referendum-trouble
Not bad for a "socialist.
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