ROME, Nov 28: Italy held a patriotic drive to encourage people to buy bonds on Monday. Long-term borrowing costs have shot up as high as 8.0 per cent and in a sale on Friday rates jumped to 6.504 per cent on six-month bonds and to 7.814 per cent on two-year bonds.

The Treasury raised 567 million euros in bonds indexed to eurozone inflation due in 2023 but the rate jumped to 7.3pc from a previous sale at 4.6pc while the amount was less than expected.—AFP