by Calculated Risk on 9/28/2011 03:54:00 PM

From the WSJ: Euro-Zone Bailout Plan Progresses

The euro zone is on track to expand its bailout fund ... But the debate ... has already moved on to two thornier issues: a more radical increase in the scope of bailouts, and possible debt restructuring for Greece.

Greece's failure to close its budget shortfall is prompting some European governments, led by Germany, to push for a re-examination of the international bailout program for Athens ... In return, Germany is under pressure to agree to "leverage" the euro-zone bailout fund ...

And a roundup of events from the Financial Times: Rolling blog: the eurozone crisis

• José Manual Barroso, president of the European Commission, gave his annual State of the Union address ... in which he insisted Greece would remain a member of the euro, and formally approved proposals for a tax on financial transactions ...
• The European Commission confirmed that the troika would return to Athens on Thursday ... and said an additional ‘eurogroup meeting’ (where European finance ministers meet up) would be held in October to “consider the disbursement of the next tranche” of bailout money
• Finland voted to approve expanding the powers of the [EFSF]
• German inflation hit a 3-year high
• French president Nicolas Sarkozy pledged to [reduce the French] budget deficit to 3 per cent of gross domestic product in 2013

The Greek 2 year yield is at 70%. The Greek 1 year yield is at 131%.

The Portuguese 2 year yield is up to 18% and the Irish 2 year yield was down sharply to 7.6%. Here are the links for bond yields for several countries (source: Bloomberg):

Greece	2 Year	5 Year	10 Year
Portugal	2 Year	5 Year	10 Year
Ireland	2 Year	5 Year	10 Year
Spain	2 Year	5 Year	10 Year
Italy	2 Year	5 Year	10 Year
Belgium	2 Year	5 Year	10 Year
France	2 Year	5 Year	10 Year
Germany	2 Year	5 Year	10 Year