GREECE IS FALLING APART: Police Fire Tear Gas On Protesters, Bailout Talks "Deadlocked", Banks Downgraded

Greece protest

Photo: Ekat

The situation in Greece continues to look worse, even that it did this morning.Talks on rescuing Greece are supposedly “deadlocked.”

2-year Greek debt is now moving close to yielding 28%.

The stock market is off 2.6%.

Meanwhile, there are huge protests in the street, and the police have fired teargas.

President George Papandreou is on TV talking up the need to “proceed with imperative decisions” (via Bloomberg.

Things are spilling over too. Portuguese 2-year debt is worsening sharply. Spain is wider as well.

You can watch live feeds of the protests here.

AND IT GETS WORSE! S&P just downgraded 4 Greek banks.

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