June 16, 2011 / 10:25 AM / 9 years ago

EURO GOVT-Greek CDS hits new record at 1,900 bps

LONDON, June 16 (Reuters) - The cost of insuring Greek debt against default set fresh record highs on Thursday on mounting concern that officials could delay, or even fail to agree on, a new bailout package for Greece. For more see [GVD/EUR] and [ID:nLDE75F0EA]

Five-year credit default swaps (CDS) on Greek government debt rose to 1,900 bps according to data monitor Markit. This means it costs 1.9 million euros to protect 10 million euros of exposure to Greek bonds.

Reporting by William James

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