Greece sells bonds to avoid default

The Greek government sold sufficient of its one- and three-month Treasury bills to cover a €5 billion debt payment due later this week. The sale followed a meeting of its lenders that failed to agree to provide the country with the next tranche of its bailout but said instead that it could have two more years to meet budget targets. The International Monetary Fund and Greece's European lenders remain divided on whether official holders of Greek sovereign debt should be required to write-off some of it off.