The USA intends to approve the issuance of diaspora bonds in the first half of January 2011. As soon as the Greek government receives approval, it will sell in March or April diaspora bonds to the Greeks of diaspora. The Greeks will be mainly in the U.S., Germany and possibly in Australia and Canada. This procedure is a good source of lending for Greece. Suhas Ketkar, professor of Economics at the Nashville University of Tennessee, estimates that the diaspora bond issuance will bring Greece more than $7,5 billion. If the Greek government offers an attractive bond yield (more than 3%), the Greeks of diaspora will strongly contribute to this effort.
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