by Calculated Risk on 6/27/2011 05:51:00 PM

From the WSJ: European Bankers Tackle Greece Debt Plan

The efforts to get a meaningful private-sector contribution to the bailout, as demanded by Germany and other governments, face a tight deadline. Finance ministers of Greece's fellow members of the 17-nation euro zone will meet to discuss a new rescue on Sunday ...

The ECB has taken a hard-line public stance against any private-sector participation that would result in a default rating for Greece.

They are trying to find a way for the private-sector to participate without it being called a default. Not easy ... and of course all of this is contingent on Greece passing the new austerity plan.

Looks like next Sunday will be interesting ...

The yield for Greek 2 year bonds is up to 29.4%, and the 10 year yield are down to 16.8%. Portuguese and Irish 10 year yields are up to new record highs (12.1% for Ireland, 11.7% for Portugal).

Here are the links for bond yields for several countries (source: Bloomberg):

Greece	2 Year	5 Year	10 Year
Portugal	2 Year	5 Year	10 Year
Ireland	2 Year	5 Year	10 Year
Spain	2 Year	5 Year	10 Year
Italy	2 Year	5 Year	10 Year
Belgium	2 Year	5 Year	10 Year
France	2 Year	5 Year	10 Year
Germany	2 Year	5 Year	10 Year