One thing that kind of insults my intelligence is the idea that the auction was a success because demand was 3 times higher than supply. These are specialized journalists. They are supposed to know that interest rates are inversely related to prices. If there is a huge demand for our debt at higher interest rates that means that this so called 'excess demand' was not interested in buying the debt at the price we were asking for. This is not excess demand.
When I was trying to sell my house at € 150 000, I received dozens of offers of € 100 000 or even less. Was I supposed to be happy because there was so much demand for my house? I ended up selling it for €120 000. What kind of excess demand is this that forces us to lower the prices instead of increasing them?