Greek and Italian bond yields break records
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Greek 10-year government bond yields have reached a new record high of 28.45%.
The first Italian bond auction to be held under prime minister Mario Monti also broke records this morning, as Italy was forced to offer yields of 6.29% on five-year papers.
Investors are likely to remain wary of the prospects for both countries despite hopes that a change of leadership in both nations would bring some much needed stability to the sovereign debt crisis.
Greece’s vice-minister of finance, Ioannis Mourmouras, marked the appointment of a new Greek government on Friday with a warning on Greece’s financial situation and the potential ramifications.
“As you know, Greece is at a crossroads. What is at stake is the future of the country within the eurozone” he said.
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Readers' comments (1)
John Burrows | 14 Nov 2011 4:54 pm
So, everyone over to Greece to set their drawdown contracts up then.....
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