BUSINESS

Greek 10-year bond yields leap 212 bps

TAGS: Markets

Greek 10-year bond yields shot up on Friday, a day after eurozone finance ministers acknowledged the country’s fiscal progress but failed to break an impasse with the International Monetary Fund over its future bailout targets.

Athens and its European Union and IMF creditors are still at odds over the fiscal goals Greece can achieve after 2018, when its third rescue program ends.

The disagreements have also rekindled fears of a new crisis in Greece, which was forced to sign up to another bailout in July 2015 in order to stay in the eurozone.

Greek 10-year bond yields rose by 212 basis points on Friday.

“The outcome was tougher than what the market had hoped for,” Beta Securities analysts Takis Zamanis told Reuters.

[Reuters]

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