Portuguese bond sale

Portugal eases fears with successful bond sale

Markets showed relief that the country managed to borrow euro1.25 billion ($1.62 billion) in a bond auction and that it ended up paying a far lower rate for its longer-term debt than previously. The government debt agency said it sold euro650 million in bonds with a 2014 maturity and euro599 million in 2020 bonds and that demand for both was high.
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Comment: With debt it is as much the willingness to pay as it is the ability to pay. One could even say that the willingness to pay precedes de ability to pay. Portugal certainly shows its willingness to pay.