Markets Shun Debt Of Rescued Nations

[interestrateripoff]

http://www.telegraph.co.uk/finance/economics/gilts/8478246/Markets-shun-debt-of-rescued-nations.html

Greece, Ireland and Portugal enjoyed no respite as investors grew still more reluctant to hold their debt, taking the yields, or returns, offered by the governments' bonds to new highs.

The yield on two-year Greek debt passed 25pc for the first time, while yields on 10-year debt climbed further over 15pc.

Portuguese and Irish 10-year debt yields also hit records, trading around 10pc.

The crisis surrounding the finances of the euro bloc's weaker nations flared up this week after German officials made more noise about a potential restructuring of sovereign debt.

This would represent an effective default, as governments would cut the interest they pay to creditors or extend their loans.

It's starting to look like we are going to need yet another bailout, I mean what's wrong with these people are they listening to the political elite. We don't have any problems and nothing is wrong.

It looks like we need another bailout to finally fix this problem once and for all.

Greek debt at 25%!!!!

[Errol]

I'm shocked. This really is a stunning turn of events - one that could simply never have been predicted.

[Freeholder]

I'm shocked. This really is a stunning turn of events - one that could simply never have been predicted.

Probably started in America.

[aa3]

Honestly will be interesting to see the endgame. So far all anybody has done is kick the can down the road and hope for a miracle. Which I guess isn't a bad strategy, as often something emerges in the meantime.

But it is starting to add up, I believe they have now bailed out Greece to the total of 270 billion Euros. If I remember Ireland was 90 billion Euros. And we'll have to see how much Portugal needs for their first round.

Spain and Belgium are not far behind. Belgium is standing behind gargantuan global insurer's losses. And as those losses mount it seems the state will eventually go under. Spain is just large in population wth 46 million citizens.

Whereas Greece, Portugal and Ireland together have 26 million.