Czech Republic to issue one billion euro in bonds

Finance Minister Eduard Janota has said that the Czech Republic is preparing to issue bonds in the amount of one billion euro on the foreign bonds market. Mr Janota said the aim was to take advantage of any improved situation on the financial markets following the decision made by the Eurozone countries to lend aid to Greece, where high debt has left the country nearly bankrupt. Speaking at a financial seminar in Italy, the finance minister added that the decision could be a very positive one for the markets that would lead to decreased interest rates. The finance ministry wants to borrow 280 billion crowns this year, of which it wants to receive 140 million on the foreign market.