Greece denies talks on fresh bailout

Greece denied that it was discussing a new €60bn (£53bn) bailout with international lenders yesterday after German politicians questioned whether the country had failed to meet conditions to release the next tranche of its €111bn aid package.

Greece is expecting another €12bn slice of aid from the European Union and International Monetary Fund next month and EU/IMF inspectors are in Athens on a quarterly visit to inspect Greece's books and fiscal plans. Sources close to the inspectors said they were not discussing any new aid programme, and that it was too early for a decision on the next tranche.

Greece meanwhile raised €1.625bn from a sale of six-month Treasury bills, in order to refinance government debt that matures later this month. It offered a higher rate of return to attract investors – 4.88 per cent – up eight basis points from last month and above the rate of about 4.2 per cent Greece pays on its bailout loans. The auction drew less interest from investors than one last month.