Greek government bond yields spiked beyond 8 percent on Thursday morning, in a sign of growing concern about the country’s economic stability given the possibility of snap elections and plans to exit its bailout early.
The 10-year note was yielding 8.941 percent at 11.30 a.m. BST, well beyond the 7 percent-threshold which many analysts believe is unsustainable. It is the first time yields have passed this point since January. On Wednesday evening the sovereign note yielded 7.863 percent.
The volatility comes amid growing concerns about Athens’ plans to exit its bailout ahead of schedule. On Saturday, Prime Minister Antonis Samaras won a confidence vote in parliament, forcing lawmakers to back his plans to exit its international aid program early — a prospect that is looking increasingly unlikely.
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