Rockefeller Currency Blog: "WEDNESDAY, MARCH 10, 2010
Unprincipled speculators are making billions every day by betting on a Greek default
Foreign Exchange - Currency Outlook
Euro Exchange rate Special: Without naming names, today the WSJ reports 'Greek officials' saying the high premium Greece is paying to issue bonds is 'unsustainable' and must come down in the next two months. 'Greece may formally seek European Union financial aid if its borrowing costs don't fall sharply in coming weeks and, if that doesn't work, will seek a rescue from the International Monetary Fund, government officials said.' The preferred form of aid is for European state-owned banks to buy Greek debt. 'The officials said Greece needs the spread to tighten to around two percentage points before crunch time: Athens must redeem some €22 billion ($29.92 billion) of bonds in April and May.' Greek yields are about 3% higher than German Bunds."
Wednesday, April 7, 2010
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