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Article updated: 9/18/2012 7:21 AM

Spain pays lower interest rates in debt auction

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Rail workers protest as police riots stand guard at Atocha station, Madrid, during a partial national rail strike, Monday. Hundreds of Spanish train services have been canceled as rail and subway workers staged strikes to protest wage cuts and reforms.

Associated Press

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Spain raised (euro) 4.5 billion ($5.9 billion) in short-term debt auctions Tuesday that saw it paying sharply lower interest rates amid speculation that the country will eventually seek aid to manage its finances.The Treasury said it sold (euro) 3.5 billion in 12-month bills at an average interest rate of 2.84 percent, down from 3.07 percent in the last such auction Aug. 21. It sold (euro) 1.01 million in 18-month bills at a yield of 3.07 percent, down from 3.35 percent.
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