Greece sells T-bills with negative interest for the first time

Greece borrowed money with a negative interest rate for the first time ever during Wednesday’s three-month T-bill auction. The Public Debt Management Authority, in an announcement, said that the interest on the auction was set at -0.020 pct, with the Greek state raising 487.5 million euros from the market. Bids were 2.71 times more than the asked sum.

This development is yet another proof of the climate of credibility prevailing in international markets concerning the Greek economy, following the 1.5 pct yield set in a reopening of a 10-year Greek state bond on Tuesday.