Such JGBs with super-long maturities are likely to be held to maturity by institutional  4  BIS central bankers’ speeches  investors and their market is not so active. Against this background, some market participants wonder if the Bank is able to purchase these JGBs in practice.
In addition, since 2004 Greece, which is heavily dependent on oil imports, suffered from the rapid rise in energy prices as well as from the appreciation of the Euro, which affected especially Greece’s main manufactured export products – textiles, garments, shoes – which after the lifting of the quotas had to confront strong competition from the emerging markets in Asia and the countries in transition in South-East Europe.