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Mon Jul 9, 2012, 02:39 PM

Euro crisis: Another day, another flirtation with disaster

http://www.globalpost.com/dispatches/globalpost-blogs/macro/europe-another-day-another-flirtation-disaster


Euro crisis: Another day, another flirtation with disaster

Rising yields, rising ire in the world's largest trading bloc. It must be Monday in Europe.

Thomas MuchaJuly 9, 2012 14:09

For those with the stomach to watch it unfold, Europe's debt crisis has assumed a sickeningly familiar pattern.

It goes like this:

European leaders talk.

The markets force government borrowing costs higher.

European leaders talk again.

Repeat.

That scenario played out yet again today as 10-year yields on both Spanish and Italian bonds rose to dangerously high levels. Meanwhile, European finance ministers prepared to meet again to discuss the latest problems.

Spanish debt costs topped 7 percent Monday, while Italian yields rose to more than 6 percent, after falling to about 5 percent last week.


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Reply Euro crisis: Another day, another flirtation with disaster (Original post)
G_j Jul 2012 OP
Javaman Jul 2012 #1
G_j Jul 2012 #2

Response to G_j (Original post)

Mon Jul 9, 2012, 03:14 PM

1. 7 is the magic number. nt

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Response to Javaman (Reply #1)

Tue Jul 10, 2012, 12:40 PM

2. seems to be..

“It’s very concerning,” Jeff Savage, regional chief investment officer for Wells Fargo Private Bank in Portland, Oregon, told Bloomberg. “Seven percent is not a sustainable level of interest rates for Spain. That’s scary stuff. We can’t have one of our best trading partners going through terrible economic times and not have an effect on US corporate earnings.”

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