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Investors snap up Greek T-bills


Investors snap up Greek T-bills


Greece has sold a total of 1.2 billion euros worth of Treasury bills indicating that investors have a renewed appetite for all things Greek following the announcement of a euro zone/IMF aid package to help the debt hit country.

The sale may lead the Greeks to continue trying to refund the debt alone without dipping into the 45 billion euros set aside by the euro zone and IMF.

However, PIMCO a key investment fund says it will not be buying more Greek debt as it believes the rescue package fails to recognise the country’s long term solvency challenges.

The package, agreed by euro zone ministers and the IMF, will offer loans at 5 per cent interest that is lower than world market rates, but not as low as Greece wanted.

Meanwhile, Greek fruit sellers have set out their stalls outside the finance ministry in Athens and distributed free produce as part of a two day protest over the governments austerity measures.

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