This board had several chunky threads a while back on Greece. Greece has been saved from default by a massive bailout co-ordinated by the ECB and IMF. Notwithstanding for the last month the spread on Greek debt has been about 800 basis points (ie at crisis level). Investors are demanding an 8% premium for perceived risk not of Greek default, but of both Greece defaulting and the ECB/IMF not paying up on guarantees. Greece is in a shocking position - but just at the moment Greece is supported...
Eurozone Sovereign Debt Crisis part 2 - Ireland
Eurozone Sovereign Debt Crisis part 2 - Ireland