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Trichet Pressures Papandreou as Greek Bonds Fall

By Implode-Explode Heavy Industries

" Rating downgrades sparked a rout in Greece?s bonds in December as investors tuned into a budget deficit of 12.7 percent of gross domestic product, more than four times the European Union limit. The yield on the 2-year Greek note today rose 6 basis points to 3.559 percent, extending yesterday?s gain of 44 points."

Full post as published by Mortgage Lender Implode-o-Meter on January 15, 2010 (boomark / email).