Greece flies into trouble but bankers defend PM’s early bail-out departure

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Greece flies into trouble but bankers defend PM’s early bail-out departure

Antonis Samaras
Greek Prime Minister Antonis Samaras, speaks to Parliament members during a debate on a confidence vote demanded by the conservative-led governing coalition half-way through its four-year mandate, in Athens on Friday, Oct. 10, 2014. Prime Minister Antonis Samaras’ government is expected to win the vote, but it faces possible early elections soon as it would need opposition support to elect Greece’s new president in March. (AP Photo/Petros Giannakouris) | Petros Giannakouris/AP/Press Association Images

Greek yields flew higher than Icarus at the end of the week amid torrid market conditions, pushing up towards levels last seen in the dark days of the European sovereign debt crisis. But while many commentators were quick to blame the spectacular spike on Greek prime minister Antonis Samaras’ ambitious plan to leave its Troika sponsored bail-out package by the end of the year, market participants rallied round the sovereign — and pointed to the more technical factors that were at the heart of the turmoil. Craig McGlashan reports.

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