So, anyone paying attention knows Greece is in a horrible financial position, and they are entirely dependent upon the largess of it’s creditors. Indeed, the cost for Greece to issue bonds just went up a huge amount, because of their stupidity.
Greek bond yields soar as debt default fears swell
LONDON (AP) — Mounting fears of a Greek debt default sent the country’s borrowing costs surging Thursday and prompted one prominent U.K. bookmaker to stop taking bets on the possibility of Greece leaving the euro.
The jitters were triggered initially by a report in the Financial Times that the Greek government recently made an “informal approach” to the International Monetary Fund to have bailout repayments delayed.
Unease was also stoked by evidence that the Greek government is shuffling around resources to cover costs and by pessimistic comments over the prospect of a deal between Athens and its European creditors.
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