Greece Seeks To Borrow Money Until the Next Bailout

Yes, really

Greece is to make an urgent bid to raise funds from the financial markets in case it does not get another tranche of bailout aid in time to repay debts.

On Tuesday, it plans to issue bonds, repayable in one and three months, to cover debt repayments due on Friday.

The bond issue is to raise 3.12bn euros ($4bn; £2.4bn), to help the country repay creditors owed about 4bn euros.

Greece is negotiating to secure aid worth 31.5bn euros from the European Union and International Monetary Fund.

Without the aid, heavily-indebted Greece would face bankruptcy.