Greece will sell 1.25 billion euros ($1.38 billion) of six-month Treasury bills on July 8 to refinance a maturing issue, its debt agency said on Friday, amid uncertainty over whether the country's banks will reopen next week after a six-day shutdown. The auction will test the leftwing government's ability to meet debt payments amid a severe liquidity squeeze and capital controls imposed on the country's banks. Greek Prime Minister Alexis Tsipras's plan to hold a referendum on Sunday on creditors' demands for austerity prompted a breakdown in talks with lenders, forced Greece to shut banks and left its future in the euro in doubt.
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