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Image header Agence Europe
Europe Daily Bulletin No. 10332
Contents Publication in full By article 17 / 36
GENERAL NEWS / (eu) eu/economy

Portugal's debt rollover costs rising

Brussels, 09/03/2011 (Agence Europe) - Portugal issued a billion euros worth of two-year public debt on Wednesday 9 March for a far higher interest rate than an equivalent rollover in September (nearly 6% in March as opposed to 4% in September). Demand was 1.6 times higher than supply. The downgrading of Greece on Monday has increased Portugal's rollover costs, raising the ten-year rate to a new record high (7.6%). Similar hikes have been seen for other countries' rollover costs on the edges of the eurozone, which may put pressure on the eurozone which will be meeting later in the month to decide on how to respond to the eurozone sovereign debt crisis. (M.B./transl.fl)

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