Investors in Europe are so worried about the euro crisis and so desperate to find a safe haven for their cash that they decided to forego an interest rate, and even paid a premium, for the privilege of lending Germany money on Monday.
The auction of six-month German government bills on Monday produced a negative interest rate. Even the Federal Finance Agency, which manages Germany's debt, was astonished. "That has never happened before," said a spokesman.
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Posted January 11, 2012 at 4:40 am
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