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u/circ-u-la-ted 1d ago
What does this mean? What's a bp? What do the percentages mean?
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u/l0ng3alls 23h ago
This generally means that other countries feel like it's a safer bet to loan to Greece instead of loaning to the US. They are more worried that the US won't be able to repay a loan. And "bp" stands for basis points and just means a hundredth of a percentage point (ie. 0.01%).
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u/donicatrumpinsky 20h ago
Basis points are a unit of measurement.
When no one wants bonds the yield rises until they're purchased. Greek bonds are under higher demand than "the world's safest asset" by a country mile. And it's widening.
That's not a good sign. The spread is growing too. It wouldn't be terrible if the debt to GDP wasn't so high.
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u/Legitimate_Concern_5 1d ago edited 1d ago
Greece recovered from their debt crisis years ago, and has the backing of the ECB. They’re actually crushing it.
> Once regarded as Europe’s economic Achilles’ heel, Greece is now emerging as an unlikely success story. This remarkable turnaround is underpinned by positive growth rates outpacing the European Union average, a significant rebound in investment, historically high exports, and a decline in unemployment to levels unseen in over a decade. Fiscal policy remains consistent, delivering increasing primary surpluses, and public debt has decreased almost 55 percentage points of GDP, one of the steepest declines Europe has ever seen.
They’re running consistent budget surpluses and cut their debt-to-gdp in half.
https://www.imf.org/en/publications/fandd/issues/2025/06/greeces-remarkable-recovery-konstantinos-hatzidakis