Italian long term cost of borrowing stays high

Italy has raised 7bn euros in the country's final debt sale of the year.

It sold 2.54bn euros of 10 year bonds at an interest rate of 6.979%.

The country had to pay 7.56% a month ago for the same type of bond.

It is an improvement but it is still an expensive rate for the country to borrow at.

Speaking to the BBC Neville Hill, European economist at Credit Suisse, said, "The most important thing is they are finding buyers for their debt".

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