Greek bond yields

I don't understand Greek 10 year bond yields. Last time I looked (about 2 weeks ago) they were ~ 10%. I see a big haircut or total default as a certainty, so why aren't
they ~ 90% ? Possible answer: The public do not own Greek govt bonds - only sovereign central banks. No individual or fund in their right mind would buy. So IMO, European governments are already accomodating Greece by not making them face the real market.
Any comments?
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On Wed, 11 Mar 2015 13:21:24 +0000, Jim wrote:

Because supply and demand.

Nope.

IYHO.

They are facing the real market. And the real market has decided 10% is a suitable price for what they perceive as the risk.
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On Wednesday, March 11, 2015 at 1:21:33 PM UTC, Jim wrote:

Maybe because other investors do not share your level of certainty.
Robert
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