Arab Today, arab today italy forced to pay record rates
Last Updated : GMT 05:27:31
Arab Today, arab today
Arab Today, arab today

Italy forced to pay record rates

Arab Today, arab today

Arab Today, arab today Italy forced to pay record rates

Rome - Arabstoday

Italy has been forced to pay record interest rates in a 10bn euro ($13bn; £9bn) auction of treasury bills.The rate of interest for the new debts due to be repaid in six months was 6.504%, compared with 3.535% in the last comparable sale on 26 October.The rate for two-year borrowing was 7.814%, up from 4.628% last time.The Bank of Italy stressed that demand for the bonds had been high, with demand for the debts outstripping supply by 50%.But the European Economic and Monetary Affairs Commissioner Olli Rehn dismissed the idea that the eurozone crisis could lead to a break up of the single currency.\"It is clear that the leaders of the euro area have underlined very firmly that they will do whatever it takes to ensure that the future of the euro is solid and stable,\" he said.\"Italy is a founding member state of the European Union and a founding member of the euro and a central part of the euro and it will remain so in the future.\"The FTSE MIB in Milan dropped 1% following the auction, to take it down 1.9% on the day. However, at Friday\'s close, the FTSE ended up 0.7%, the French CAC-40 up 1.2% and Germany\'s Dax up 1.1%.The Italian government\'s implied cost of borrowing, based on the price at which its debts are traded on financial markets, has risen steadily over the last few weeks to levels seen as unsustainable in the long-term.However, it is only when the government raises new money at debt auctions, such as those held on Friday, that it is forced to actually pay the higher rates on its debts.Italy plans to sell another 8bn euros at an auction on Tuesday.Having met Germany\'s Angela Merkel and France\'s Nicolas Sarkozy on Thursday, Italian Prime Minister Mario Monti will be meeting EU Economic and Monetary Affairs Commissioner Olli Rehn on Friday.Mr Monti told his French and German counterparts that he aims to balance the budget in 2013.Mr Rehn is expected to seek further reforms to stabilise Italy\'s public finances and put the economy back on track, with the European Commission believing that more austerity measures will be needed if the budget is to be balanced.The economic affairs commissioner has made some stark predictions about the importance of the coming weeks.\"Ahead lies either the slow disintegration of the euro area or a significant strengthening of the monetary union,\" Mr Rehn told journalists on Thursday.He told Italian legislators on Friday that it was important to convince Germany of the need to issue eurobonds - common eurozone debts backed by all 17 member states.\"If I put it nicely, I would say there is a variety of views and there is quite some opposition as regards eurobonds,\" he said.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today italy forced to pay record rates Arab Today, arab today italy forced to pay record rates

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Hamas leader accuses Israel

GMT 11:43 2017 Tuesday ,28 March

Hamas leader accuses Israel
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today Trump poised to roll back climate protections

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Trump to roll back Obama clean power plan

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan

GMT 09:58 2017 Saturday ,25 March

Nermein Al Fekki films “Foxes in the Valley”

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 05:17 2017 Wednesday ,29 March

Samsung to sell refurbished Galaxy Note 7s

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday