Greek Government bond stayed under pressure this Wednesday as Greek workers started a 24-hour strike to protest against the Government’s stern measures which might be bringing complications in the aspirations of the Greek Government of proposing a new 10-year bond. This will be done in this very week to cover funding gaps.

Greek debt crisis sustained as the premium investors demanded to buy 10-year Greek Government bonds instead of German benchmarks.

According to Credit Default Swap monitor CMA DataVision, the cost of protecting Greek Government debt against evasion escalated to 376.0 basis points from 370.0 bps at the New York close this Tuesday. It leads to the conclusion that the cost soars high to 376,000 Euros to protect 10 million Euros-worth of Greek government bonds.

Czech Finance Minister Eduard Janota said, ”Greece will find it impossible to slash its budget deficit as fast as promised”.