Friday, January 22, 2010



Why Americans Should Care About the Debt Crisis in Greece


Posted Jan 21, 2010 10:52am EST by Peter Gorenstein
Related: TBT, TLT, GLD, RSX, EUO, FXE, FEZ

Is Greece about to go bust? The Greek government says they don't need a rescue package but they are exploring all options to claw out of a mounting debt crisis to cover their near-term budget shortfall.

Investors are still skeptical. Yields on Greece's benchmark 10-year bond are trading near record premiums to comparable German debt after briefly touching a record high on Wednesday. The cost of insuring that debt through credit default swaps is also near unprecedented levels.





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