Greek sovereign hits record wide on credit

The cost of insuring five-year Greek debt has edged closer to the $1m (€808,001) mark

The cost of insuring Greek sovereign debt against default rose further to hit a record high early Thursday, according to data provider CMA DataVision.

Greece's five-year sovereign credit default swaps were quoted at 972 basis points shortly before 0850 GMT, compared with 934 basis points Wednesday afternoon.

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