- Last week, the country’s debt management office PDMA has announced plans to cover the EUR 5bln debt through a Treasury bill auction today. However according to sources, Greek banks, which have been prime buyers of debt can only raise about EUR 3.5bln of collateral acceptable to the ECB. But in order to mitigate this, the PDMA will accept non-competitive binds up to 0.60 percent of the amount auctioned, which will bring total proceeds to EUR 5bln.
Print 09:50, 12 Nov 2012 - Economic commentary - Source: Newswires
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