Debt Payments

The euro region’s third-largest economy has to repay about 53 billion euros in debt in the first quarter from the region’s total maturing debt of 157 billion euros, according to UBS AG. It owes a further 3.2 billion euros in interest payments based on the average five-year yield of the past three months.The yield on the benchmark 10-year bond was 6.69 percent after the auction at 12:46 p.m. in Rome, up one basis point from yesterday. That pushed the difference with German bonds to 4.69 percentage points. Argyle Knit UGG Boots The euro extended its decline against the dollar, trading below $1.30 for the first time since Jan. 12.Monti, in office less than a month, is seeking to show investors he can bring down borrowing costs and tame a debt that is bigger than that of Spain, Greece, Portugal and Ireland combined. Yesterday, he accepted changes proposed by lawmakers to the plan, which the Senate is due to vote on by Dec. 23 following approval in the Chamber of Deputies. “We are confident that markets will react positively to the efforts Italy is making, maybe not tomorrow, but the reduction in borrowing costs that we anticipate in the coming months will help spur the economy,” Monti told the Finance and Budget Committees of the Chamber last night in Rome.