In an attempt from the Greek government to reduce its swelling budget deficit which raised concerns last week, the government sold 2 billion euros of floating-rate notes with maturity in February and yield of 250 basis points, higher than the Euribor rate, to National Bank of Greece, Alpha bank,EFG Eurobank Ergasias, Piraeus Bank, and Sanpaolo IMI SpA.

The government will undertake bold actions to reduce the deficit despite the ongoing efforts to shore up the economy. However, the Greek Prime Minister promised that he will take into consideration low and middle-income citizens.