Greece avoids default ... for now
04:35, 19 August 2012
NEW YORK. August 19. KAZINFORM It looks like Greece will be able to make its latest bond payment next week, thanks to some creative financing.
The Greek government sold over €4 billion worth of three month bills on Tuesday, which analysts say will be used to repay €3.2 billion in bonds held by the European Central Bank that mature on August 20.
Greek banks were the main buyers at Tuesday's auction, because most outside investors are still unwilling to lend money to Athens, CNNMoney reports.
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