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Greece troubles mount as two-year bond yields rise to 46%

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banned from Kos Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-04-11 01:18 PM
Original message
Greece troubles mount as two-year bond yields rise to 46%
http://online.wsj.com/article/SB10001424053111904583204...

The two-year Greek bond yield rose by 2.64 percentage points to 45.92%, widening the yield spread over similarly dated German schatz by 2.47 percentage points to 45.39%. The five-year yield rose by 0.83 percentage point to 28.56%, while the 10-year yield climbed by 0.16 percentage point to 17.54%.

A Greek official had said earlier Friday that a visiting troika of international inspectors has been suspended amid a dispute over the country's ability to meet its deficit targets.


Bad for the Euro - good for the Dollar.

US gas and interest rates headed down.
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bluestateguy Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-04-11 01:21 PM
Response to Original message
1. Here we go again with Greece
Why does it always seem like there are a few days of panic about Greece, the markets throw a fit, a bailout of some sort is announced, and then Greece's troubles seem to go away for awhile. Then a month or two later the whole cycle repeats itself again.
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Kalidurga Donating Member (627 posts) Send PM | Profile | Ignore Sun Sep-04-11 01:31 PM
Response to Reply #1
2. Wait a minute...
you mean the austerity measures aren't working???
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DJ13 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-04-11 01:32 PM
Response to Reply #1
3. The imposed austerity is decelerating their economy
Edited on Sun Sep-04-11 01:33 PM by DJ13
That austerity actually is creating a feedback loop of ever declining government revenue, which ends up with a constant need for more outside aid.

That kind of feedback loop is why governments should never slash spending in recessions or depressions.
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tama Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-04-11 02:56 PM
Response to Reply #1
5. It's a comedy act
in ancient times the Tyrant of Syracuse robbed his citizens with his thugs, robbed and robbed again and the citizens complained and cried and yelled and moaned. But one day the Tyrant heard, to his great surpise, that the citizens were laughing. He summoned the chief of thugs and asked what is going on. Well Sir, they have nothing left to rob so the fear no more and just laugh when we go robbing. :D
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tama Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-04-11 02:48 PM
Response to Original message
4. LOL nt
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