Greek CDS Spreads Hit Brand New Record, As EU And IMF Begin 10 Days Of Tense Negotiations To Avert Catastrophe

Amazingly, Europe can’t convince markets that it has the Greek problem under control.

Greek CDS spreads have hit another record of 480 basis points, according to CMAnews.

ForexLive notes that that the bond market concurs with Greek-German bond spreads hitting a 12-year high.

10 days of talks between the EU and IMF began today, so expect LOTS of mixed headlines over the coming days.

If things aren’t hammered out, a Greek default could happen as soon as May.

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