Greece raises 1.625 bln euros in 6-month T-bills

Greece passed its first borrowing test on Tuesday since a giant EU/IMF funding deal in May, sending bank stocks and the euro higher after it easily sold 1.625 billion euros ($2.03 billion) of 6-month T-bills.

The debt-ridden country managed to get market funding at a slightly cheaper cost than the 5.0 percent it pays to borrow under the 110 billion euro loan that the European Union and International Monetary Fund put in place to calm a crisis that has shaken the euro zone.