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Markets

Italy issues 7.85bn euros in bonds at sharply higher rates

Published Updated

italian-government-yieldsMILAN: The Italian Treasury issued 7.85 billion euros worth of bonds on Thursday with sharply higher interest rates, according to the Bank of Italy, signalling renewed discontent on the markets.

Although Rome adopted a second draconian austerity package in mid-September which aims to reduce the country's vast debt -- around 120 percent of Gross Domestic Product -- by 2013, investors show little faith in the government.

Copyright AFP (Agence France-Presse), 2010

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