Greek CDS blowing out

Greek 5 yr CDS is blowing out by about 100 bps to 950-990 bps after Austria threatened to withhold its portion of the Greek bailout funds because they don’t believe Greece has met the conditions for the next round of money. “We are getting indications that the Greeks can’t stick to their plan in a sufficient manner, in particular on the revenue side” said the Austrian finance minister.

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