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Growth-Killing Spending Cuts

Report: Greece to End Bond Market Exile Thursday

Bailed-out Greece is set to end its four-year exile from bond markets on Thursday with a five-year issue, three sources said on Thursday.Greece, which has been bailed out twice by the European Union and the International Monetary Fund since 2010, aims to raise up to 2.5 billion euros, expects strong interest from investors and is optimistic it will succeed, one government official told Reuters on condition of anonymity."We aim to raise up to 2.5 billion euros on Thursday," the official said. "It will be a great success if the coupon is below 5.3 percent," the official added.The issue is an important milestone for one of Europe's most troubled economies. The last time it sold bonds, as opposed to very short-term paper, was back in March 2010.Greece has been since kept afloat by about 220 billion euros of EU/IMF bailout funds and about 15 billion euros of treasury bills. Thursday's issue would lower the country's average borrowing cost, the Greek finance ministry official said.In a drama...

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