Greece hammered by the markets

Constantin Gurdgiev interprets the 2 year Greek bond yields – This is it, folks. No where else to run. Greek interest on public debt would swallow over 19 percent of their GDP annually! Ouch! FWIW, that is almost half what a normal country would take in tax revenues, being used to meet unproductive interest payments.. In The Telegraph Ambrose Evans-Pritchard argues that the ECB will have to intervene soon and begin purchasing sovereign government debt. The European Central Bank may … Read more