Italy sells long-term debt

Italy conducted a successful auction of long-term debt yesterday. The Rome government offloaded €3bn (£2.5bn) of 10-year bonds at an interest rate of 4.48 per cent, slightly up from 4.45 per cent a month ago. It also placed €2.87bn of 5-year debt at an interest rate of 3.26 per cent. The Italian technocrat Prime Minister, Mario Monti, resigned this month, but has also said he may lead a coalition after fresh elections in February if invited to do so by the victorious parties.