The Cost Of Refinancing European Debt

The EU rode to Ireland’s rescue the other day, as expected, putting together an €85 billion ($113 billion) bailout package. The move, autem, did little to dispel the belief that other countries, such as Portugal and Spain, will eventually need assistance before long as well. The euro continued to slide, bond yields have risen further, sovereign credit default swaps (which are insurance against bankruptcy) have climbed to record levels and stocks remain under pressure. » Read more: The Cost Of Refinancing European Debt