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PM Socrates and Chancellor Merkel. Ms Merkel said the auction went well (Photo: consilum.europa.eu)

Make or break Portuguese bond auction successful

Portugal is issuing a sigh of relief after a make-or-break bond issue on Wednesday met with relative success.

Lisbon managed to sell €1.25 billion worth of four-year bonds at yields of 5.39 percent and 10-year bonds at 6.71 percent, down from higher rates seen in recent days.

Crucially, rates did not breach the psychologically important seven-percent mark, the rate at which analysts had expected would precipitate a decision by the government to call on EU-IMF financial assistance,...

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PM Socrates and Chancellor Merkel. Ms Merkel said the auction went well (Photo: consilum.europa.eu)

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