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Greek Yield Reaches Record on Schaeuble Restructuring Comments
Greek government bonds declined, pushing the 10-year yield to a record high, after German Finance Minister Wolfgang Schaeuble said the Mediterranean nation may need to restructure its debt. German 10-year yields reached the lowest in a week, while Portuguese yields of the same maturity surged to a 14-year high. Schaeuble told Germany’s Die Welt newspaper that Greece would have to negotiate to ease its debt burden should an audit in June question the nation’s ability to pay creditors.