Greek Default Spread Hits A New High!

Straight from CMA, so much for short-traders losing their shirt. We’re going to have to update our Greece crisis-in-motion chart by the end of today we feel.

Chart

Meanwhile, the IMF said on Sunday they were moving as fast as they can to get a bailout in place.

WSJ:

“Since we received the request for financial support last Friday, our discussions with the authorities have accelerated,” Mr. Strauss-Kahn said in a statement.

“I am confident that we will conclude discussions in time to meet Greece’s needs,” he added.

He is confident.

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