Greek, Irish, and Portuguese Bonds Record: Greece Will Have A Lost Decade

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Mohamed El-Erian, chief executive officer at Pacific Investment Management, said that Greece faces the risk of a "Latin America-style lost decade" due to its debt crisis.
“Latin America suffered from a ‘lost decade’ for growth, employment and investment,” “Greece today faces the same danger,” the country is “far away” from financial stability and hasn’t come any closer to gaining access to international financial markets".

So today, Greek, Irish and Portuguese bonds are being dumped and the cost to insure them against default rose to all-time highs.


"Greek two-year yields rose above 25 percent for the first time, while 10-year bond yields advanced to euro-era highs for the ninth consecutive day. Portuguese two- and 10-year, and Irish 10-year yields also reached records. German two-year notes fell as reports showed inflation accelerated in five German states in April and the nation sold 10-year bonds".  Bloomberg