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ATHENS, Greece – Greek shares have fallen sharply while the interest rates charged on Greek bonds jumped higher after the country's European creditors pulled a debt relief package announced only last week in protest at subsequent budget measures by Athens.
In late Wednesday trading, the main stock market in Athens closed down 3.2 percent while the yield on the country's 10-year bond rose 0.28 percentage point to 7.01 percent — above the 7 percent level that is widely considered to be unaffordable.
The market moves came after Michel Reijns, the spokesman for the eurozone's top official, Jeroen Dijsselbloem, said in a tweet that recent actions by the Greek government "appear to not be in line with our agreements." As such, he said there was "no unanimity" for implementing the short-term debt measures.