![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhv4UqkYxDDK19ImSkEJqwLtONBlsI0BhPXnxT1FnDWlsYBbTx24G9S-tfOCL7EwhW6NyjVmrYhKT17_dp8zekeAeId52Y0GCT_DB9twIoyc5vko-I3a8CDo3-ly1SVb4MNvOm61jdKbj8/s280/3.jpg)
In fact, the creditworthiness of nations such as Greece, Portugal, and Spain is looking worse than ever, as represented by % spread between the yield demanded by bondholder for ten-year PIIGS government bonds and the ten-year bonds of Germany (Germany is Europe's version of a 'risk-free' yield to compare things against). For all of the PIIGS, it is worse off than before the European Unions's one-trillion-dollar affirmations of support for the PIIGS, or before the much bally-hooed bank stress tests.
The frenzy surrounding the Eurozone crisis may have ebbed, but it'll be back...
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