Greece sells notes to cut huge deficit
China Daily | Updated: 2009-12-17 08:02
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Greek Prime Minister George Papandreou has been unable to convince investors he can reduce the nation's deficit. Bloomberg News |
LONDON: Greece sold 2 billion euros ($2.9 billion) of floating-rate notes privately to banks, eight days after Fitch Ratings downgraded the nation's debt as the government struggles to cut the European Union's largest budget deficit, two bankers familiar with the transaction said.
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