Bond market to borrowers: Pay me back in 100 years
NEW YORK — Italy has suffered through bouts of inflation and a revolving door of failed governments in the past 50 years, so you would think it would have to offer a super-high interest rate to entice people to lend to it for the next 50. But in a bond sale last month, it got away with just 2.85 percent, half the rate it paid for a three-month loan a few years ago.
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