The government struggled to reassure markets it can stay solvent after the premium that investors demand to buy Greek debt rather than the benchmark German government debt surged for the third day in a row to the highest level since Greece joined the euro.
Scepticism over a dearth of details surrounding a proposed European Union and International Monetary Fund lifeline continued to pile pressure on a country already struggling to cover its wide fiscal gap and huge public debt load.
“Despite everything the EU and the euro zone have done, there is still a lack of clarity (and) confusion about what they intend to do, when they intend do it and how much would be involved,” Chris Pryce, senior Greece analyst for rating agency Fitch, told Reuters.
“It is now up to the Greek government to go publicly to the EU and IMF and ask for the cash and the support.”
