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Greek bond issue oversubscribed by at least 8 times – deputy PM

Almunia

Greece’s 5-year bond issue, marking its return to bond markets since a debt restructuring two years ago, was oversubscribed by at least eight times, the country’s deputy prime minister Evangelos Venizelos told reporters on Thursday.

Venizelos said that strong demand for the issue was proof that the country’s debt is sustainable.

European Competition Commissioner Joaquin Almunia said Greece’s bond issue will bolster sentiment throughout Europe, which is still struggling with the impact of the debt crisis.

“It’s extremely good news… and it will reinforce confidence in Europe to overcome the crisis,” he told reporters in Athens after meeting Greek Finance Minister Yannis Stournaras.

Greece launched a five-year bond issue on Thursday, marking its return to bond markets after four years of exclusion. Stournaras said the bond issue was a “huge success” but declined to provide details. (Reuters)

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