Greece's Growing Threat to the Euro Project

A geeky move in Greek bonds suggests the smart money is seriously worried that Prime Minister Antonis Samaras's gambit will backfire.

Gambling with parliament.

Photographer: Angelos Tzortzinis/AFP/Getty Images

The complicated and unstable politics of Greece have come down to a new moment of truth: On Monday, Prime Minister Antonis Samaras called for a snap presidential vote in parliament, gambling that he can persuade legislators to back his candidate. If he fails, however, it will trigger elections that could cost Samaras his job. Amid the ensuing market turmoil, one geeky move in the bond market suggests the smart money is seriously worried that Samaras's gambit will backfire.

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