With Greece in a fiscal crisis, the nation's debt is viewed as increasingly risky - and the impact is increasingly spreading far beyond the Mediterranean nation. The Greek crisis has sparked deeper worries about other countries with heavy debt loads and shaky economies, especially Spain, Portugal, Ireland and Italy. The interest rate they must pay to borrow money has risen sharply relative to that paid by fiscally conservative Germany in recent weeks, if less dramatically so than the Greeks.
SOURCE: Bloomberg | The Washington Post - April 24, 2010
Negotiators rush to avert default in Greece Article | LONDON -- European and International Monetary Fund negotiators were racing Friday to hash out a $60 billion rescue package for Greece after its prime minister, who called his country a "sinking ship," put out an urgent call for help to prevent a national default.