The cost of borrowing for embattled euro zone nation Greece got even more expensive on Wednesday, as investors shunned the country's sovereign debt ahead of tough negotiations with its international creditors.
The yield on its 10-year sovereign spiked to 8.401 percent on Wednesday morning before easing back to 8.225 percent. This came after the yield pushed sharply higher on Tuesday afternoon from a level of 8.042 percent at the beginning of the week.
Yields this week have not reached the 9 percent level hit in mid-October when negative sentiment surrounding Greece spread to global markets. However, rising debt yields do highlight that the country's economic woes are far from over, with a crucial deadline in early December looming large on the horizon.
"Greece still has sizeable financing needs in 2015 and it remains up in the air how these will be covered, which is likely to be causing market nervousness," Sarah Pemberton, the European economist at Capital Economics, told CNBC via email.
It comes as Athens attempts to exit its bailout program – which has been hugely unpopular in the country - ahead of schedule. The government is hoping to strike a deal with the so-called "Troika" of bailout monitors - the European Union, International Monetary Fund (IMF) and European Central Bank (ECB) - before a December 8 deadline.
One stumbling block to this plan is Greece's fiscal gap for 2015, with both sides unable to agree how large it could be and how it should be addressed.
"We are in a tough phase," Greek Finance Minister Gikas Hardouvelis said on Tuesday, during a meeting with Greek President Karolos Papoulias, according to Reuters news agency. "In this interim period, nerves are stretched on all sides. It's not just us, it's also on the side of the lenders."
A left-of-center political party called Syriza has also grown in popularity over recent months, putting more pressure on the conservative-led coalition government. Presidential elections are due in February and there are concerns that a strong performance by anti-bailout parties could trigger a snap election in the country.