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Greece sells treasury bills at increased interest rate

Xinhua, February 11, 2015 Adjust font size:

Greece sold 1.137 billion euros (1.29 billion U.S. dollars) worth of treasury bills in an auction on Wednesday, the Public Debt Management Agency (PDMA) announced.

The 13-weeks bills were sold at an interest rate of 2.5 percent, up from the 2.15 percent secured in the January 14 sale.

The auction was carried out a few hours after the new Leftist-led government won a confidence vote in the parliament and ahead of a euro group meeting on the Greek debt crisis scheduled for later on Wednesday.

Finance Minister Yanis Varoufakis was expected to request from euro zone partners among other proposals the increase of the ceiling on the issuance of Treasury bills by 8 billion euros so that Greece can cover its financing needs in coming months as Athens will be negotiating a new debt relief with creditors, according to a government source.

Lenders' responses so far have fuelled uncertainty which was reflected in the results of the monthly auction program Greece runs since it was shut out of international markets in 2010. (1 euro = 1.13 U.S. dollars) Enditem