Comment: For you fiat lovers - Greek 1 Year Bond Yield: 111.7%

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For you fiat lovers - Greek 1 Year Bond Yield: 111.7%

http://www.zerohedge.com/news/greek-1-year-bond-yield-1117

What a great investment! Is Germany really going to defend Greece against a default?

Greek bond yields rise to unprecedented levels
By David Oakley
September 13, 2011 6:46 pm

Yields have risen by 150 percentage points on some bonds in the space of three months and volumes have slumped, almost to nothing on some days.

One three-year bond, which was trading at 20 per cent in June, is trading at a yield of 172 per cent, with a bid-offer spread – the difference between what a bank is offering to buy and sell the bonds at – of 47 percentage points.

http://www.ft.com/intl/cms/s/0/afd72cac-de07-11e0-a115-00144...

Merkel Rejects Greek Default, Defends Euro-Area Integrity
September 13, 2011, 11:48 AM ED
By Tony Czuczka and Mariajose Vera

Sept. 13 (Bloomberg) -- German Chancellor Angela Merkel said Greece is taking the right steps to get its next bailout payment, warning against allowing a Greek default because of the risk of contagion for other euro-area countries.

http://www.businessweek.com/news/2011-09-13/merkel-rejects-g...