Tags: Italy | borrowing | costs | Crisis

Italy's Borrowing Costs Drop Sharply in Debt Sale

Thursday, 10 Jan 2013 08:05 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Financial markets appear to be shrugging off worries over a bitter election campaign in Italy, with the government paying the lowest rate in three years to raise 12-month money on bond markets.

The Italian treasury auctioned off 8.5 billion euros ($11.1 billion) in Treasury bills Thursday, paying an interest rate of 0.86 percent, the lowest since January 2010. It paid 1.46 percent on a similar bill in mid-December.

Polls show the center-left party substantially in the lead ahead of general elections in February. But the media have been filled with speculation it may not win a clear majority in both houses of parliament.

Analysts for UniCredit, Italy's largest bank, say this may actually be positive, forcing the left into cooperating with the reform-minded centrist parties led by outgoing Premier Mario Monti.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
You May Also Like
Around the Web
Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved