Greece raises 5bn euros from bond issue

This is the first post I am putting up here. It's not brand new but it's fairly recent.

Greece has raised 5bn Euros by releasing bonds. They sold both 10 year and 7 year bonds with 6.3% and 5.9% returns respectively. Greece in heavy financial trouble and this will help them get out of it. I think that this is a good way for Greece to raise some money, but however if the seven years are up and they are not out of trouble, they will owe their citizens billions of Euros. In the article it states that Greece needs to refinance 20bn of its debt before the end of may, and this is a step in the right direction.

Original Article is from the BBC and can be found here.