http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=aZafz6ODjM40
Extract
Greek government bonds fell, pushing the yield on the two- year security up as much as 64 basis points to a euro-era record of 23.65 percent today, reflecting mounting investor expectations that Greece will renege on its debts. The government in Athens has ruled out a restructuring, saying it would devastate domestic banks and hammer the economy.
Extract
Greek government bonds fell, pushing the yield on the two- year security up as much as 64 basis points to a euro-era record of 23.65 percent today, reflecting mounting investor expectations that Greece will renege on its debts. The government in Athens has ruled out a restructuring, saying it would devastate domestic banks and hammer the economy.
A debt restructuring by a euro country risks triggering a banking crisis that in a “worst case” could exceed the effects of the failure of Lehman Brothers Holdings Inc., ECB Chief Economist Juergen Starktold ZDF German television.
Feld said while the exposure of German banks to highly indebted countries overall is “relatively high,” the exposure to Greece is “not so strong” and the domestic banking system should be able to cope with any restructuring.
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