Spain, Ireland, Greece Sell Debt as `Funding Pressure’ Eases

Spain, Ireland, Greece Sell Debt as `Funding Pressure’ Eases
Spain, Ireland and Greece sold almost 10 billion euros ( billion) of debt, with demand rising for shorter-dated securities, on optimism the European Union’s aid programs will contain the region’s fiscal crisis.
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Financial markets across the world have continued to experience serious volatility amid a worsening debt crisis in Europe sparked by the downgrading of Greece’s massive debt to junk status. Athens has asked the European Union and IMF for more than bn to help bail the country out of its economic problems. Many analysts fear the crisis could trigger the downfall of other vulnerable economies in the eurozone. Jonah Hull reports. [April 29, 2010]