A few months ago we posted that Greek debt was trading with an incredible yield of 22%. Well we can forget that.
Following another Eurocrat opening his mouth, the latest yield is an eye watering 35% yield on 2 year debt.
As the chart below shows, the yield, or effective interest rate, has more than tripled from 11% in February 2011.
Ireland has shot up from just 5% in February to around 15% at the start of July and finally to 23% today.
Italy in the meantime is cruising along at just under 5% yield in comparison.
