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Italian borrowing costs rise on debt crisis fears

Italian borrowing costs rise on debt crisis fears

Italy has raised (EURO)6.75 billion ($9.49 billion) from the markets, but at much higher costs as fear spread through Europe's financial markets over worries that Italy and Spain would be dragged into the debt crisis.
Yields on 12-month treasury bonds rose to 3.67 percent Tuesday from 2.15 percent a month earlier. The auction was oversubscribed 1.55 times, compared with 1.71 times last month.
Italian spreads on 10-year bonds hit 6.01 percent on secondary markets _ more than one percentage point higher than two weeks ago.
The Milan stock exchange tumbled by as much as 4 percent in morning trading, before stabilizing after Finance Minister Giulio Tremonti announced plans to accelerate Italy's austerity measures.


Updated : 2021-06-19 17:29 GMT+08:00