As the spread yield on Greek bonds continues to increase over the benchmark German bonds, the heads of several of the world’s largest investment firms have joined forces to say that Greece requires an immediate bail-out.
“Now is the time to put some money on the table,” John Stopford, co-head of fixed income at Investec, told the BBC. “We are getting down to two options – an IMF package of financial support or organized debt restructuring.”
With each bond offering, Greece’s cost to borrow money has increased culminating in yesterday’s bond sale that saw interest rates charged by investors to the Greek government rise to their highest level since the introduction of the Euro in 1999.
Source: BBC News
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