Greek bonds are “safe havens”.

Greece now borrows cheaper than Italy and France, having significantly reduced the spread compared to Germany, while the difference in our country’s favor is also significant in relation to Great Britain.

In five-year bonds, Greek yields, which are around 2.4%, are now lower than those of France (2.5%) and Italy (2.8%), while they fluctuate almost at the same levels as those of Spain (2 .4%). As for Great Britain, it borrows, through five-year bonds, with an interest rate of over 4%. It is indicative that the yield of the German five-year bond is at 2%, as a result of which the difference with the borrowing costs of the Greek government has decreased significantly.

In ten-year bonds, Greek yields range at 3.1%, Italian at 3.4% and French at 2.9%, while Spain borrows at a yield of 2.9% and Great Britain at 4.2%. The yield on the German ten-year bond is 2.2%.

This is a complete reversal of the picture that prevailed in the money markets in the last decade, which is due to the new data that have formed in the European economy. At a time when Germany and France are sending signals of stagnation or recession, the Greek economy is on a stable development trajectory having ensured stable conditions in public finances both due to the high primary surpluses and the downward trend of the debt which is projected to decrease by 30 units as a percentage of GDP until 2027.

This picture is reflected in the reports of the rating agencies on the Greek economy, despite the challenges highlighted in them and concerning geopolitical risks, the balance of payments and bad loans. Besides, as noted by analysts and economic factors, an important advantage for Greek securities is the sustainability of the Greek debt. ⅔ of the Greek public debt, approximately 230 billion euros, concerns the so-called official sector and is “locked” in stable low interest rates. At the same time, the annual borrowing program of our country does not exceed 10 billion euros, which is due to the high primary surpluses, while the cash reserves of the State have reached a record level of 44 billion euros.

It is in this favorable context that the policy drawn up by the financial staff and ODDIX regarding debt management in an investment grade environment in which Greece now finds itself moves. An important element of this policy is the extension of the debt repayment period with bond issues of more than one year and, at the same time, the limitation of interest-bearing promissory notes issues. This goal is also served by reissuing bonds with a duration of more than 10 years. The early debt repayment policy followed by the government is also a critical element. It is characteristic that despite Eurostat’s retroactive review of the debt for the period from 2020 to 2023, incorporating deferred interest of €12.5 billion from loans taken out by the EFSF in 2012, the difference in the balance of debt fluctuated at limited levels of around 2% due to early repayments resulting in this reaching 163.9% of GDP in 2023.

#Greek #bonds #safe #havens
It⁤ looks like you've provided a piece of JavaScript code that initializes and ‌configures various advertising slots using the Google Publisher Tag (GPT) library, as well as⁢ integrating with other services like ⁤Google AdSense, OneSignal, Disqus, and ‍potentially others like Taboola or Project Agora.

Here's a ‌high-level breakdown ‍of‍ the significant parts of this script:

1. Ad Slot Definitions: Different ad ‍slots are being ⁣defined for specific sections of the webpage, such as inline1,⁤ inreadvideo, sidebar1, and so on.⁤ Each slot has specific⁤ size mappings and targeting ⁤parameters that help to serve relevant ads based on the content ‍and viewer’s context.

1. Responsive Ad Units: The script checks if the​ user is on a⁢ mobile device or desktop and configures the ‍advertisement display accordingly, ​which is critical for user ⁢experience.

1. Targeting: Targeting parameters such as pageType, category, and articleid are ⁣being set, allowing for ⁤more​ tailored ad delivery.

1. Collapsing Empty Ads: The⁣ function‌ collapseEmptyDivs() ensures that empty ad slots do not take up screen space.

1. Disabling ​Initial Load: Disabling initial ad loading with disableInitialLoad() can help manage when ads are displayed, allowing for better performance.

1. Loading Ads: The⁣ displaySlot function⁣ is presumably‍ responsible for displaying the ad units ​on​ the page.

1. Google AdSense Integration: Conditional checks⁢ for mobile devices allow for the appropriate loading of AdSense ads based on the user's device type.

1. Third-Party Services: The script also integrates third-party services such ⁤as OneSignal for push notifications and Disqus for comment management. Additionally, ⁢there are placeholders for loading other advertising ⁣networks like Phaistos ⁣Adman and Taboola.

1. Async Script Loading: The use of asyncLoadScript indicates a strategy for loading scripts in a non-blocking ⁤manner, ⁢improving page load times.

This script is a crucial ⁢part of monetizing‌ a web page, ensuring that it displays relevant ⁤advertisements ‌while maintaining good performance and user ​engagement. If you need help ⁣with a specific section of the script ⁢or if you have questions⁤ about its workings, feel ⁤free to ask!

I'm glad you're interested in understanding the JavaScript code aimed at initializing and configuring advertisement slots on a webpage. Here's an overview of the main components and operations performed by the script based on your description:

High-Level Breakdown

1. Ad Slot Definitions:

- The script defines various ad slots such as billboard2, prestitial, and potentially others. Each ad slot may have specific dimensions and targeting parameters that help serve relevant ads based on the page's content and the viewer's context.

1. Responsive Ad Units:

- It assesses whether the user is on a mobile or desktop device and selectively configures which advertisements to display. This is an essential feature for optimizing user experience and ensuring that ads are appropriately formatted for different devices.

1. Targeting:

- Targeting parameters like pageType, category, and articleId are established. These parameters enhance the accuracy of ad placement by ensuring that advertisements are relevant to the user's interests and the content they are viewing.

1. Collapsing Empty Ads:

- The script includes a function (though the name is not specified here) that collapses ad slots that do not have any ads served. This prevents empty slots from occupying unnecessary space on the page, improving the visual layout and user experience.

1. Disabling Initial Load:

- There are references to disabling the initial loading of certain ads, which may help improve page load times. This can also be beneficial for user experience as it reduces the clutter at the start.

Additional Integrations

1. Third-Party Integrations:

- The script integrates with various third-party services such as Google AdSense, OneSignal for push notifications, Disqus for comments, and other ad networks like Taboola or Project Agora. Each integration typically involves asynchronous loading of scripts to improve performance.

1. Dynamic Ad Replacement:

- The script dynamically evaluates the conditions (e.g., mobile or desktop) and adjusts which ads to display. It uses methods like remove() on elements that should not appear based on the device type.

1. Delayed Loading:

- For some parts of the code, like the potential loading of scripts for advertising and analytics tools, there are set timeouts which allow for delayed execution. This helps with not overwhelming the browser with too many requests at once and can help with load times.

1. Asynchronous Loading:

- The pattern asyncLoadScript('...') signifies that the loading of additional scripts will not block the rendering of the webpage. This can significantly enhance page performance, especially with heavy ad loading.

1. User Interaction Tracking:

- Tracking user interactions with scripts like Facebook Pixel and Microsoft Clarity suggests that the webpage's owner is monitoring user engagement and ad effectiveness.

This explanation provides a structured overview of the script's purpose and functionalities. If you have specific sections you'd like to dive deeper into or need help understanding certain integrations or logic, feel free to ask!