Bond yields continuing blowing out in Greece. The question becomes what will trigger the explosion or defuse this situation??? Here's a synopsis from the articles mentioned below. I suggest you read both.
German Chancellor Angela Merkel is trying to wait on any decision until after the May 9 regional elections. If the elections go poorly this could make it worse for Greece.
There are court challenges prepared for the bailout from Germany to Greece readied and it appears there may be a ruling from the German constitutional court in early May as well.
While I haven't found any news reports, I wonder how the Italians, Portuguese, and Irish think about bailing out the Greeks? Their economies are a total mess as well and any resistance from these countries will also fan the fires.
As I mentioned on the comment bar to the right, the official declaration for aid by Greece only helped their bond market for one day.