Greece’s 10-year bonds fell for a third straight day, pushing the yield up by the most in more than two years. Overnight, Greece’s 10-year yield increased 81 basis points, or 0.81 percentage point, to 7.81 percent.
Fears are that the government will not be able to raise enough new money at reasonable interest rates to payoff debt coming due. The fears come as a result of the government’s plans to hold onto power by ending an international bailout that will result in the nation moving away from austerity plans imposed by international bankers.
Greek bank stocks plunged in reaction:
NBG -13%
Piraeus -14%
Alpha -14%
Eurobank -20%
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