by William L. Watts
MarketWatch
May 9, 2011
A year after accepting a €110-billion ($158.7 billion) bailout from the European Union and the International Monetary Fund, Greece’s debt problems aren’t going away.
With 10-year bond yields above 15%, credit-default swaps pointing to fears of a “credit event,” and the nation struggling to meet fiscal targets under the terms of the rescue package, Greece appears increasingly unlikely to return to the credit markets as planned in 2012.
Fears came to a head on Friday, when Germany’s Der Spiegel magazine reported that Greece was considering leaving the euro zone. Greek and European officials vociferously denied the report.
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