When you're Portugal and were paying 18.29% on January 31....
Greece reached a deal with its private sector creditors last Friday but the European saga is far from over. Another restructuring is widely expected. Portugal is a likely candidate, given the interest rates the country is paying for its debt.
Greece is another, although not until next year. The yields on Greece's new bonds (the ones that were restructured last Friday) are running between 14% and 19%, higher than the yield on the country's short-term debt. That's an indicator that markets expect another restructuring down the road. Even with the debt relief, Greece's debt to GDP ratio is projected to be 151% this year, dipping to 149% next year.
Greece reached a deal with its private sector creditors last Friday but the European saga is far from over. Another restructuring is widely expected. Portugal is a likely candidate, given the interest rates the country is paying for its debt.
Greece is another, although not until next year. The yields on Greece's new bonds (the ones that were restructured last Friday) are running between 14% and 19%, higher than the yield on the country's short-term debt. That's an indicator that markets expect another restructuring down the road. Even with the debt relief, Greece's debt to GDP ratio is projected to be 151% this year, dipping to 149% next year.
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