Bloomberg News

Greek Default Swaps Surge 280 Basis Points to Record 2,050

June 16, 2011

June 16 (Bloomberg) -- The cost of insuring Greek government debt surged 280 basis points to a record 2,050, according to CMA prices for credit-default swaps. That signals there’s an 81.5 percent chance of the country failing to meet its commitments within five years.

To contact the reporter on this story: Abigail Moses in London at amoses5@bloomberg.net

To contact the editor responsible for this story: Michael Shanahan at mshanahan3@bloomberg.net


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