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Greece raises 2.6 billion euros in T-bill sale

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[January 08, 2013]  ATHENS, Greece (AP) -- Greece has raised euro2.6 billion ($3.4 billion) in the auction of one- and six-month Treasury bills, at slightly lower interest rates compared with similar sales last month.

The Public Debt Management Agency said Tuesday the four-week bills raised euro983.2 million at an interest rate of 3.95 percent, slightly lower than the 3.99 percent last month. The 26-week bills raised euro1.625 billion at a rate of 4.30 percent compared with December's 4.38 percent.

Gripped by a severe financial crisis since late 2009, Greece has been unable to borrowing longer-term money on the international bond market due to extremely high interest rates demanded by wary investors. It has relied on international rescue loans to avoid bankruptcy since May 2010, and raises small amounts through the regular treasury bill sales.

[Associated Press]

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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