by Calculated Risk on 10/03/2011 02:39:00 PM

The Euro-zone finance ministers are meeting in Luxembourg today. There will be no decision on Greece; they will wait until after the inspectors issue a report next week. There is an emergency finance minister meeting tentatively scheduled on October 13th to vote on the next loan installment for Greece.

Over the weekend, Greek officials announced public sectors cuts - and that they would miss the deficit targets for 2011 and 2012.

On the meeting today from the WSJ: EU to Discuss Leveraging Rescue Fund

Euro-zone finance ministers Monday will discuss leveraging the region's bailout fund, possibly with the help of the European Central Bank, Economics Commissioner Olli Rehn said Monday.
...
"We are reviewing options of optimizing the use of the EFSF in order to have more out of it and make it more effective as a financial firewall to contain contagion," said Mr. Rehn, the EU's top official for economic and monetary affairs.

The Greek 2 year yield is down to 62.2%. The Greek 1 year yield is at 128%.

The Portuguese 2 year yield is up to 17.6% and the Irish 2 year yield is down sharply to 6.8%. Clearly Portugal is perceived as next in line - and Ireland appears to be doing better.

The Spanish 10 year yield is at 5.1% and the Italian 10 year yield is at 5.5%.