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GREECE PASSES KEY BORROWING TEST
GREECE passed its first borrowing test yesterday since a giant EU/IMF funding deal in May, sending bank stocks and the euro higher after it easily sold €1.63bn (£1.36bn) of six-month T-bills. The debt-ridden country managed to get market funding at a slightly cheaper cost than the five per cent it pays to borrow under the €110bn loan that the European Union and International Monetary Fund put in place to calm Greece’s crisis.