Greek State Borrows €625 Million at Interest Rate of Zero



Greece’s Public Debt Management Agency (ΟΔΔΗΧ) announced on Wednesday that it pumped €625 million into the economy by selling 26-week Treasury Bills at a 0.000 percent interest rate.

The total bids reached €1,802 million and the amount finally accepted by the Greek state was €812.5 million.

The ”cover ratio” of this transaction was 2.88, meaning that markets were willing to offer nearly three times the initial amount of money the Greek state wanted to draw.

The last time the Agency sold 26-week bills, on October 2, the interest rate was 0.097 percent.

Today’s zero yields sent another very positive message to the world regarding Greece’s economy, as global financial markets are now placing a great deal more trust in it compared to just a few months ago.