Greek Yield Surge a ‘No Confidence’ Vote, SocGen Says: Tom Keene

Record Greek debt yields indicate there’s no private investor demand for the bonds of the first European nation to tap European Union and International Monetary Fund aid, according to Societe Generale’s Kit Juckes.

“If the government had to come in and borrow money for two, three, four or five years off savers, it would really struggle to do so at this stage,” said Juckes, head of currency research at Societe Generale in London in a radio interview on “Bloomberg Surveillance” with Tom Keene. “The solution for this is more support within Europe -- so another bailout package -- so they don’t have to borrow money off the market, or a change that makes the fear of restructuring go away. The market is saying it has no confidence.”