Europe is patting itself on the back as they supposedly work out a fix for Greece. Basically, Greece will get billions more Euros in exchange for spending cuts. As a result, Greek interest rates fell slightly, though they are still very very high.
Greece 10-year interest rate:
Greece 2-year interest rate:
Great job Greece and Europe! The 10-year interest rate in Greece is now only 16.81%. And the 2-year rate is down to 29.38%. A job well done, indeed!
But wait a second there Europe. Don’t drink your champagne just yet. What about the rest of Europe?
Ireland 10-year interest rate:
Portugal 10-year interest rate:
Spain 10-year interest rate:
Italy 10-year interest rate:
Very puzzling. Why are those interest rates rising to record highs if you solved the problem? I’m starting to think you don’t know what you’re doing.