After a pledge from the EU to effectively subsidize Greece, the Greek bond market took off. A high demand for its bonds generated a yield of 4.55% and caused them to sell out. The euro’s original euphoria has passed, however, and its value dropped today.
In other news, President Barack Hussein Obama indulged himself yet again in his favorite hobby, and bowed to the president of China. Meanwhile, Turkish Prime Minister Recep Tayyip Erdogan says that there is no such thing as Islamic terrorism.
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