ECB warns of threat to Greek democracy

Greek debt costs were bludgeoned on Thursday (15 April) after news filtered through markets that the German finance minister, Wolfgang Schaeuble, came out publicly saying that a restructuring of the Hellenic republic's debts may be required.

Separately, the European Central Bank has warned that such restructuring - default by another name - would threaten Greek democracy.

Insuring Greek bonds for five years jumped to 1100 basis points, a record for the heavily indebted country. T...