Greek bond yield hit double digits amid debt row

Yields on two-year Greek bonds hit 10 per cent on Thursday as European Union authorities and the IMF clash over the country’s debt.

Greece needs a further €7bn by July to avoid bankruptcy, the Financial Times reports.

However, authorities fear the issue must be solved in mere days to avoid the issue becoming politicised ahead of Dutch and French elections.

The IMF has refused to sign on to aid programme unless eurozone leaders grant further debt relief to Greece.

Yesterday’s 100-basis point jump in yields saw the two-year bond reach its highest level in eight months.