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Economy
In reply to the discussion: STOCK MARKET WATCH, Wednesday, December 14, 2011 [View all]xchrom
(108,903 posts)22. Italy raises $3.95 billion but rates up again
http://hosted.ap.org/dynamic/stories/E/EU_ITALY_FINANCIAL_CRISIS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2011-12-14-07-23-54
ROME (AP) -- Italy's last bond auction of the year saw the country having to pay higher borrowing rates to get investors to lend it the money it needs to rollover its big debts.
Wednesday's auction showed that the debt-riddled country paid an average yield of 6.47 percent for investors to lend it euro3 billion ($3.95 billion) over five years.
The yield was up 0.17 percentage point from last time Italy looked to raise money over five years and was the highest rate since 1997. The euro came into existence in 1999.
Italy has seen its borrowing costs, both in the markets and in bond auctions, rise markedly over the past few months as investors have grown increasingly worried over the country's ability to deal with its debts, which total around euro1.9 trillion ($2.5 trillion), or around 120 percent of its GDP. It is considered too big to bail out by its partners in the 17-country eurozone.
ROME (AP) -- Italy's last bond auction of the year saw the country having to pay higher borrowing rates to get investors to lend it the money it needs to rollover its big debts.
Wednesday's auction showed that the debt-riddled country paid an average yield of 6.47 percent for investors to lend it euro3 billion ($3.95 billion) over five years.
The yield was up 0.17 percentage point from last time Italy looked to raise money over five years and was the highest rate since 1997. The euro came into existence in 1999.
Italy has seen its borrowing costs, both in the markets and in bond auctions, rise markedly over the past few months as investors have grown increasingly worried over the country's ability to deal with its debts, which total around euro1.9 trillion ($2.5 trillion), or around 120 percent of its GDP. It is considered too big to bail out by its partners in the 17-country eurozone.
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