Greek Euro Exit Risk Recedes, But Spanish Bonds Above 7% Mean Trouble

With the Greek elections having come and gone, global markets have seen a little uncertainty taken off the table, but nothing has really changed, beyond a shift in focus.  As Antonis Samaras, Sunday?s victor, tries, and probably will succeed, to form a coalition government, a brief rally was derailed by fears over Spain?s solvency, with bond yields rising once again to record levels.  The rising rates of non-performing loans, a beleaguered banking sector, and financing needs in Spain will surely keep markets on edge despite New Democracy?s electoral victory on Sunday.

http://www.forbes.com/sites/afontevecchia/2012/06/18/eu-sovereign-debt-crisis-from-greek-euro-exist-to-spanish-solvency-risk/