Italy’s Record-Low Yield Shows Greek Woes Contained
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Forget the PIIGS. These days Greece is on its own.
As Italy sold 10-year bonds today at a record-low yield of less than 2 percent, rates on similar-maturity Greek debt were spiraling toward 10 percent. Compare that with 2011, when Greece’s troubles were grouped with Portugal, Ireland, Italy and Spain and Italian borrowing costs exceeded 7 percent.