AINSLEY THOMSON, MARK BROWN And EMESE BARTHA write from London in the Wall Street Journal February 4:

The cost of insuring the debt of euro-zone members with large budget deficits against default rose Thursday, dashing hopes that the European Commission's qualified endorsement of Greece's budget plan would calm investor fears.

Greece, Portugal and Spain were in focus, with their five-year sovereign credit default spreads moving sharply wider.

Greece's five-year sovereign credit default swap spreads were recently at 4.23 percentage points, compared with Wednesday's closing level of 3.97 percentage points, according to to CMA DataVision. That means the annual cost of insuring €10 million of Greek government debt against default for five years had risen €26,000 to €423,000.

To read more, click, this link:

http://online.wsj.com/article/SB10001424052748704041504575044621319898434.html