Greek Bonds Tumble on Speculation Cash May Only Last a Few Weeks
Greek finance minister Yianis Varoufakis stands prior to deliver a speech during the Economist conference entitled "Europe: The comeback ? Greece: How resilient?" on May 14, 2015 in Athens.
Photographer: Louisa Gouliamaki/AFP via Getty ImagesThis article is for subscribers only.
Greek bonds plunged, pushing 10-year yields up to the highest since April, as speculation grew that the nation’s financial system may be just weeks away from running out of cash.
The time remaining for Greece to strike a deal with its creditors is “very limited,” European Union Economic Commissioner Pierre Moscovici told reporters in Berlin Monday. The Greek government meanwhile repeated its pre-conditions for any deal to be reached, saying it won’t yield ground on its “red lines.”