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Cost of Insuring Euro-Zone Debt Sinks

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SO FAR, SO GOOD
"The cost of insuring the debt of both weaker and stronger euro-zone member states against default plummeted early Monday after the European Union announced an emergency support package and as euro-zone central banks started buying government debt," the Wall Street Journal reported. "Greece's five-year sovereign credit default swaps tightened 3.74 percentage points to 5.41 percentage points, Portugal's CDS dropped 1.82 percentage points to 2.43 percentage points, and Spain's fell by 0.85 percentage point to 1.54 percentage points, according to data from CMA DataVision."

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