Global Journal of Management and Business Research, D: Accounting and Auditing, Volume 22 Issue 2

Source: Bloomberg, 2014 Figure 14: PIIGS 10-year Bond Yields, 2009-2014 Greece 10-year bond yield IS currently trading at 6.84%, down 50% from last year, and Ireland trading at 3% compared to 14% at the peak of the crisis (Alderman, 2014). Furthermore, Figures 15 and 16 emphasise the decrease in CDS trading as financial assistance provided by the bailout programmes reduced the PIIGS’ default risk. Source: Bloomberg, 2014 Figure 15: Stabilised 5year-CDS Greece Source: Bloomberg, 2014 Figure 16: Current 5year-CDS PIIS compared to Germany, 2014 Lessons Learned from European Sovereign Debt Crisis 63 Global Journal of Management and Business Research Volume XXII Issue II Version I Year 2022 ( )D © 2022 Global Journals