Greek Spreads Hit 522 bps On Debt Restructuring Talks
As was reported first on Zero Hedge yesterday, Greece may now be considering a restructuring. Full press accounts of what is going on in the absence of the usual Greek rumor mill are murky. Reuters is claiming that the IMF portion of Greek aid would amount to €12 billion. In the meantime the market has spoken: the spread is now a fresh new record 522 bps. At this point every single rating agency is expected to downgrade the country.