Thursday, 6 May 2010

Greece at the birth of Western civilization is now the beginning of the end

Standard & Poor’s downgraded Greece to “junk” status and Portugal to four notches above junk on April 27. The premium for 10-year Greek government bonds over euro zone benchmark German Bunds blew out to 942 basis points - its highest since late 1996 - from 690 bps April 28. The two-year Greek bond yield briefly hit more than 28 percent earlier in indicative trading. more...


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