Greece to sell €1.5 billion in T-bills

Greece's debt management agency says it will auction €1.5 billion in 6-month treasury bills next week, its first sale of short-term debt since mid November. 

 

An agency statement Friday said the issue will be on January 11, and that its size may be increased by as much as 30 percent. 

 

Debt-ridden Greece only avoided bankruptcy in May through foreign rescue loans that will reach €110 billion by mid 2013. In return, the Socialist government slashed salaries and pensions, hiked sales taxes and raised retirement ages - sparking union protests. 

 

Although effectively blocked from long-term borrowing on international markets due to high interest rates, the country started issuing treasury bills in September.





AP