ECONOMY

Greece says China took part in latest T-bill auction

Chinese investors bought 100 million euros worth of short-term Greek Treasury bills in an auction on Wednesday, Greece’s deputy finance minister said, in a boost for the cash-strapped country.

The deputy minister, Dimitris Mardas, did not give any further details.

Athens is an increasingly dire financial position as bailout aid remains frozen and foreign investors’ refusal to roll over their own Greek T-bill holdings have compounded the country’s problems.

Athens has made overtures to both Russia and China as talks with European and IMF lenders struggle over economic reforms Greece must implement, though the government insists its focus is on securing more aid from EU partners.

Mardas called for the negotiations with the EU and IMF to be completed as soon as possible.

[Reuters]