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Friday, May 20, 2011

Greece Bond Yields increase as Policymakers Disagree on Restructuring

by Calculated Risk on 5/20/2011 08:40:00 AM

From the Financial Times: ECB’s political tensions flare over Greece

This week, the ECB’s fierce opposition to Greece’s delaying debt repayments has erupted into a full-blown and public dispute. ... Jean-Claude Juncker, the Luxembourg prime minister who also chairs meetings of eurozone finance ministers, floated the idea of a “soft” restructuring ...

In response, ECB policymakers accused him of “using meaningless phrases”.
From the FT Alphaville: The ECB goes all-in

Kash Mansori wonders Is the ECB Pushing Greece Out of the Euro-Zone?

The yield on Greece ten year bonds increased to a record 16.5% today and the two year yield was up slightly to 25.1%.

Yields for other European countries are not increasing - yet. Here are the ten year yields for Ireland at 10.5%, Portugal at 9.3%, and Spain at 5.5%.