Wednesday, March 21, 2012
The Hellenic Parliament ratified yesterday the agreement of the new loan to Greece granted by the European Union (EU) and the International Monetary Fund (IMF) with a vast majority - 213 votes in favour and 79 against, out of 292 MPs present. - First Loan Tranche Deposited
The escrow account created for the repayment of Greece’s debts was activated as the first installment of the eurozone loan -amounting to € 5.9 billion -was deposited yesterday, to cover maturing bonds held by the European Central Bank. One billion out of the 5.9 bn is going into the Greek state account, held by the Bank of Greece, for the country’s needs.
T-Bill Auction
Greece raised € 1,300 million during an auction of 13-week Treasury Bills conducted yesterday. According to an announcement by the Public Debt Management Agency (PDMA), the issue was 2.69 times oversubscribed. Total bids reached € 2,688 mln and the amount finally accepted was € 1,300 mln. The interest rate was 4.26% compared to 4.61% reached during the previous auction of 13-week bills on February 14, and 4.64% during the auction of January 17.
