Wednesday April 16, 2014

question of the week

Survey results are meant for general information only, and are not based on recognised statistical methods.

Home »  News »  Business

Greece will afford to repay debt maturing Friday after raising another 937 million euros

Protesters shout slogans with a Greek flag reading: ''Not for sale'' before a conference of Greek and German mayors in the northern Greek port city of Thessaloniki, Thursday, Nov. 15, 2012. THE CANADIAN PRESS/AP, Nikolas Giakoumidis

ATHENS, Greece - Greece has raised a further €937.5 million ($1.2 billion) from new bids for treasury bills issued this week, bringing the total to just under €5 billion — enough to avoid bankruptcy on Friday, when it has to make a debt repayment.

To afford the repayment, Greece auctioned four-week and 13-week bills on Tuesday and continued to accept bids until Thursday.

It was essential for the debt-ridden country to raise the €5 billion this week as its next bailout rescue loan from other eurozone countries and the International Monetary Fund is not expected until the end of the month.

Without the money raised this week, Greece would have faced bankruptcy on Friday, the day on which treasury bills it issued in August will mature.


NOTE: To post a comment in the new commenting system you must have an account with at least one of the following services: Disqus, Facebook, Twitter, Yahoo, OpenID. You may then login using your account credentials for that service. If you do not already have an account you may register a new profile with Disqus by first clicking the "Post as" button and then the link: "Don't have one? Register a new profile".

The Coast Reporter welcomes your opinions and comments. We do not allow personal attacks, offensive language or unsubstantiated allegations. We reserve the right to edit comments for length, style, legality and taste and reproduce them in print, electronic or otherwise. For further information, please contact the editor or publisher, or see our Terms and Conditions.

blog comments powered by Disqus

About Us | Advertising | Contact Us | Sitemap / RSS   Glacier Community Media:    © Copyright 2014 Glacier Community Media | User Agreement & Privacy Policy
Business in Vancouver Whistler Question Squamish Chief Powell River Peak Real Estate Weekly My Local Flyers


Lost your password?