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Game Over: EuroStat News Blows Up Greece - 3 Year Spread At Ridiculous 870 bps, CDS Hits Record 806
Date: 2010-04-22T05:21:00.927
Author: Tyler Durden
Editor note: Greece and Ireland had much larger budget deficits last year than expected and the Greek data may be revised further due to its unreliability, the European Union's statistics office said, sending the euro lower. "It looks like a terrible situation just got worse," said Nick Kounis, economist at Fortis. Greece, now negotiating a three-year emergency loan package with the European Commission, European Central Bank and International Monetary Fund, had a gap of 13.6 percent of gross domestic pro
Teaser: We warned you (here and here). EuroStat reports that the Greek budget was really 13.6% of GDP and the Debt/GDP is more like 115.1%. Greek bond spreads explode to a ridiculous 562 bps on th
Number of Views: 1019
View original artilce: http://www.zerohedge.com/article/game-over-eurostat-news-blows-greece-3-year-spread-ridiculous-870-bps-cds-hits-record-806
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