Greece is suddenly looking far better if today as Greek media has reported that the nation’s government will finally present a formal bid for IMF help.
“The die has been cast, Greece is turning to the EU/IMF aid mechanism today, the relevant announcement will be made at 1200 local,” Greek daily To Vima’s website wrote, without citing sources. Other media repeated the news.
Greek 10-year bond yields are breathing a sigh of relief, and have fallen from the 8.80% range down to about 8.15%, according to Bloomberg. That’s still a disturbingly high yield, but it’s a huge improvement for a single day.
The announcement could be coming very soon.
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