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.
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.
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