Deepening recessionary processes in Greece may require the implementation of the second international agreement to help this country, which has not yet been made. Judging by the cost of insurance against default of Greece (CDS), a market with a probability of 87% chance of default estimates of Greece for 5 years. The yield on the 2-year Greek bond yesterday for the first time exceeded 50%. Evangelos Venizelos Minister of Finance forecasts that the country's economy this year will be reduced by approximately 5%. This is significantly worse prognosis June the EU and the IMF, which meant the reduction of GDP in Greece this year at 3.8%. The deteriorating situation in Greece, the budget cuts in Italy, and the rising cost of borrowing for banks in Europe underscore investor concern that the efforts of European officials to curb the debt crisis in the region so far in vain. Since international investors can completely lose confidence in the EU.
