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Greek bond spreads narrow after Reuters interviews EU Commissioner Almunia on crisis 02.01.2010 The 10-year Greek/German government bond spread narrowed about 20 basis points to 342 bps on Feb. 1 after an exclusive Reuters interview with the European Union’s Economic and Monetary Affairs Commissioner, Joaquin Almunia. After weeks of speculation about the EU’s approach to the Greek debt crisis, Almunia arranged the interview, specifically requesting to talk to Reuters’ economic and monetary affairs correspondent, to communicate his stance clearly and directly to the markets, saying Greece’s plans to cut its budget deficit were ambitious but achievable, and that the EU would press Athens for further measures if progress in deficit-cutting slowed. Almunia spoke to Reuters two days before the European Commission published recommendations on how and by when Greece should reduce its deficit. MARKET IMPACT The 10-year Greek/German government bond spread narrowed about 20 basis points Reuters Firsts will need at least flash player 9 to give you the full experience. The latest Flash player can be downloaded here	firsts across any industry Commodities & Energy Energy, metals, agricultural and environmental markets FX & Money Markets Macroeconomics, monetary policy, FX and money markets Politics & Risk Politics and political risk Equity & Derivatives Companies, sectors, M&A and the financial industry Fixed Income Sovereign and corporate debt, credit, and ratings firsts by region Americas View stories from this region Europe / Middle East / Africa View stories from this region Asia View stories from this region Emerging Markets View stories from this region

Fixed Income

Sovereign and corporate debt, credit, and ratings

Greek bond spreads narrow after Reuters interviews EU Commissioner Almunia on crisis

02.01.2010

The 10-year Greek/German government bond spread narrowed about 20 basis points to 342 bps on Feb. 1 after an exclusive Reuters interview with the European Union’s Economic and Monetary Affairs Commissioner, Joaquin Almunia. After weeks of speculation about the EU’s approach to the Greek debt crisis, Almunia arranged the interview, specifically requesting to talk to Reuters’ economic and monetary affairs correspondent, to communicate his stance clearly and directly to the markets, saying Greece’s plans to cut its budget deficit were ambitious but achievable, and that the EU would press Athens for further measures if progress in deficit-cutting slowed. Almunia spoke to Reuters two days before the European Commission published recommendations on how and by when Greece should reduce its deficit.