The yields on Spanish debt are exploding over the “acceptable” levels again. At the same time, time, CDS levels are the highest since last December.
The exit of Greece from the Eurozone is being talked up among the members in a way that is obviously for one or two purposes:
- A threat to Greece to get their government coalition together or,
- Warming us all up to the idea that an exit is imminent.
Either way, markets are not at all happy about the quick change of plan after the $1 trillion infusion to the markets last December.
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