Greece to pay 13 billion euros more as an interest on its debt this year

By IBTimes Staff Reporter | March 31 2010 3:01 AM

Recent data compiled by Bloomberg, Credit Agricole and Investment Bank shows that Greece will probably pay 13 billion euros as an interest on its debt in 2010 more than the yields that prevailed from 2000 to 2008. Interest on the three-bonds sold this year by the debt-ridden country will reach 7.7 billion euros, 3.9 billion euros higher than if they were sold at the pre-crisis yield.

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Greece will sell 8 billion euros of five-year notes, 4 billion euros of 15-year bonds, 8 billion euros of 10-year securities, 3 billion euros of 30-year bonds and 5 billion euros of five-year floating notes during the current year, according to Credit Agricole projections.