Can\’t see any way that it won\’t:
Greece, Ireland and Portugal enjoyed no respite as investors grew still more reluctant to hold their debt, taking the yields, or returns, offered by the governments\’ bonds to new highs.
The yield on two-year Greek debt passed 25pc for the first time, while yields on 10-year debt climbed further over 15pc.
Note that this is nothing to do with speculators, the ratings agencies, derivatives, credit default swaps or anything like that. It is purely and simply that people are not willing to buy the debt. And why should they, given that it\’s obvious that they\’ll not get paid back what they might pay for it?