A government stock offer for €150 million has been oversubscribed with offers to the tune of €526.3 million being received.

The government said on Friday this was the third time in the past months that it had been given a strong vote of confidence by financial institutions.

€403.7 million had been offered in February for a call of €200 million and €493 million were offered in May for a call of another €200 million.

The government said this indicated that financial institutions still enjoyed substantial liquidity offering €1.4 million to the government in the past four months.

It said it was at the moment only borrowing from financial institutions but stocks will be issued for individuals in the coming months.

First to benefit would be pensioners who will be offered the best possible interest rate.

The stocks, the government said, will be financing the biggest regeneration plan the country ever had, which plan was expected to lead to more economic and social successes.

 

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