by Calculated Risk on 11/29/2010 08:58:00 AM

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• A Summary for Week ending November 27th

The European markets are off about 1% this morning.

The yield on the Ireland 10-year bond is up to 9.25%.

The yield on the Portugal 10-year bond is up to 7.02%.

The yield on the Spain 10-year bond is up to 5.36%.

Roubini suggests Portugal should seek a bailout: "Go now to the IMF to borrow money now" (in Portugese)

And from Reuters: Greece Gets Loan Repayment Extension to 2021

Greece will have until 2021 to repay its 110 billion euro ($145.7 billion) EU/IMF bailout loan, the country's finance minister said on Monday.

In return, Greece will have to pay a higher fixed interest rate of about 5.8 percent from 5.5 percent...

Update: from Paul Krugman: Not Waving But Drowning

It’s as if we’re having the following dialogue:

“Ireland really can’t afford to pay these debts.”

“Here’s a credit line!”

“No, really, we just can’t afford to pay.”

“Here’s a credit line!”

It really is like watching a car wreck.