Greece raises €1.625bn in fresh treasury bill auction

Greece raised 1.625 billion euros (about 2.15 billion U.S. dollars) in a fresh treasury bill auction on Tuesday, the Greek Public Debt Management Agency (PDMA said. Athens sold the six-month treasury bills at an interest rate of 4.2 percent, an unchanged rate in comparison to a similar auction held on May 8. The monthly treasury bill sales program is the only source of funding for Greece to meets its financing needs in parallel to the rescue loans released from European Union and International Monetary Fund (IMF) creditors since 2010. Over the past three years the debt-laden country which reached the brink of bankruptcy, has no access to international financing markets. (1 euro= 1.32 U.S dollars)