The international rescue package for Ireland has failed to restore confidence in the eurozone debt markets, leading instead to a surge in bond yields across half the currency bloc.
Spreads on Italian and Belgian bonds leapt to a post-EMU high, with the sell-off moving beyond Ireland, Portugal, and Spain, the Telegraph reports. Nick Matthews, a credit expert at RBS, says: "The crisis is intensifying and worsening. Bond purchases by the European Central Bank are the only anti-contagion weapon left. It needs to act much more aggressively." Read more here Greece seeking repayment extension Greece is likely to get an extension for the repayment of its €110bn assistance package from the European Union and International Monetary Fund. Finance Minister George Pa...
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