It Should Cost the Germans and the Greeks Roughly the Same to Borrow

It Should Cost the Germans and the Greeks Roughly the Same to Borrow
It’s the debt and deficits, to be sure. Greece is trying to get its fiscal house in order. And Germany is traditionally (or at least in the post-War era) Europe’s best steward of sound money policies. But for all of Europe (and America) these rising bond yields can be reduced to a much simpler explanation: you can’t get something for nothing.

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