The cost of insuring Greek debt against default jumped and Spanish 10-year bond yields rose toward record highs near 5.6 percent, while Portuguese yields hit a new peak of 9.4 percent. All three countries have sought bailouts from the European Union and International Monetary Fund, and Kenny’s government wants a reduction on the rate on its loans, which he has described as “too severe.” 
 
 “We’re not looking for more money from Europe, we’re looking for greater flexibility,” Kenny said, referring to the rate on the bailout and to medium-term financing for lenders from the European Central Bank.
– The euro took a nose dive today, and so did the bonds of weak eurozone nations, as investors panicked over fresh speculation that Greece will have to restructure its debt in the near future, and the election of an anti-Euro party in Finland. German government sources tell Reuters that they doubt Greece will be able to get through the summer without restructuring. Greece, however, has repeatedly denied that it would do so. "It would have catastrophic consequences," the Bank of Greece's governor said. Speculation was also rampant that the new Finnish government would throw a monkey wrench in Portugal’s bailout negotiations. EU negotiators issued a statement today insisting that wouldn’t happen. “There are no changes in plans,” a spokesman said. “We're fully confident that member states will honor their commitments.” Irish Prime Minister Enda Kenny, meanwhile, reassured observers that Ireland intended to pay its debt. “The Greek government will obviously deal with this problem in the best way it can,” he told Bloomberg. “We have no intention of defaulting.”