Greece borrowing rates hit new record

admin Contributor
Font Size:

ATHENS, Greece (AP) — Greek bond yields have hit another record high, exceeding benchmarch German bond rates by 10 percentage points for the first time.

Monday’s record occurred on the eve of a euro1.5 billion ($1.96 billion) auction of 6-month treasury bills, considered an important test of market sentiment.

Greece has said it wants to return to bond markets this year, but the interest gap, or spread, on 10-year bonds compared with the German issue reached a worrying 1,001.1 basis points amid renewed worries about some EU nations’ struggle to handle debt loads.