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Europe debt market tensions worsen ahead of summit

Europe debt market tensions worsen ahead of summit

Europe's debt market jitters are flaring up again on the eve of a summit of EU leaders, signaling increasing investor pessimism about certain countries' outlook.
Given that eurozone countries have thrashed out most of the details of their crisis strategy, markets have turned their eye back towards individual countries, notably Portugal and Ireland.
Portugal's government is set to fall after an expected defeat in a Parliament vote later Wednesday over its latest austerity plan. The new Irish government, meanwhile, appears unlikely to get easier terms for its bailout from its EU partners.
The yield on Portugal's ten-year bonds is up 0.10 percentage point to 7.57 percent, near euro-era highs, while Ireland's yield is up 0.08 percentage point to 9.91 percent.