Greece raises €1.3bn at steady 4% rate

Greece raised 1.3 billion euros ($1.7 billion) with a sale of three-month treasury bills on Tuesday, at a stable rate of 4.02 percent, the public debt management agency said. "Total bids reached 1.7 billion euros and the amount finally accepted was 1.3 billion," the agency said in a statement. At the previous three-month treasury bill auction held in May, Greece had again raised 1.3 billion euros with the same borrowing rate. The heavily indebted country, shut out of the long-term markets since 2010, is relying on international rescue loans for its economic survival and regularly issues short-term debt. Representatives of Greece's European Union, International Monetary Fund and European Central Bank creditors are currently in Athens, conducting a regular audit. Meanwhile, the stability of the country's conservative-led, three-party coalition government was shaken after Prime Minister Antonis Samaras' sudden decision to shut down state broadcaster ERT last week. On Monday Samaras met his coalition partners who have strongly opposed the closure, while Greece's top administrative court ruled that ERT had to reopen until a new national media body is set up.