Yes, you read that right. Greece has sold new bonds to international investors for the first time since its economy collapsed four years ago.
The Greek Finance Ministry said Thursday that it raised €3 billion ($4.2 billion) by selling 5-year bonds, its first debt issue since the eurozone country received €240 billion of bailout loans from the European Union and International Monetary Fund.
Demand was robust. Investors were ready to buy as much as €20 billion, analysts said.
It’s been a long and painful road to recovery for Greece. In a bid to stabilize its finances, the government has implemented deep spending cuts, sending unemployment rocketing to 27% — nearly six in every 10 workers under the age of 24 are without a job.
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