WOLFGANG MÜNCHAU: Here's The Real Reason Markets Are Freaking Out About Spain
• http://www.businessinsider.com, Joe WeisenthalNews coverage seems to suggest that the markets are panicking about the deficits themselves.
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News coverage seems to suggest that the markets are panicking about the deficits themselves.
Fierce debate is growing in Europe over whether austerity or growth offers the best strategy to overcome the continent's sovereign debt crisis. As if it were that simple.
A fourth consecutive increase in euro-zone exports took the region's trade balance into surplus in February, data showed Monday, bolstering hopes that economic contraction will be short lived.
A jump in the bond yields of Spain weighed on a recovery in European stocks and pushed Asian indexes lower as investors feared Madrid may eventually need a bailout that the eurozone can scarcely afford.
The euro dropped to less than $1.30 for the first time in two months as Spanish bond yields touched a 2012 high after a minister called on the European Central Bank to do more to stem debt-market turmoil.
It's really hard to argue with Paul Krugman's latest column, which argues that Europe is committing economic suicide.
George Soros delivered one of the best and most concise assessments of what went wrong in Europe, and why things are getting worse.
'Today the problem is solved," declared French President Nicolas Sarkozy just five weeks ago. "How happy I am a solution to the Greek crisis, which has weighed on the economic and financial situation in Europe and the world for months, has been found
The tiny country is unique not only in its stunning geography but also in its open democracy. This democracy was pivotal in the choice to let three giant banks fail during the financial crisis.
The Euro crisis is not “solved.” Not by a long shot. Yet Bloomberg reports this morning (i,e, March 2nd) that European leaders “declared a turning point in the Greece-fueled debt crisis.”
The economic crisis in Europe continues to get worse and eventually it is going to unravel into a complete economic nightmare.
Goldman Sach's Francisco Garzarelli writes that four things have him convinced that Europe will not fall back into the crisis environment it saw between August and December of last year
As Greece wonders whether its debt crisis will eventually spell its exit from the euro, one town, Volos, has formed an alternative local currency.
Spanish bailout 'impossible' for eurozone, says prime minister Mariano Rajoy ... The eurozone is not equipped to bail out Spain, the country's prime minister Mariano Rajoy has admitted
European markets took a big hit today, obliterating any hope generated by yesterday's rally.
Total disaster in peripheral Europe today
The Spanish IBEX 35 fell below 3%, and the Italian FTSE MIB doesn't look much better.
Spain is the calamity du jour.
Is the euro crisis over?
The European Central Bank may ultimately have to revive its controversial program of buying euro-zone government bonds if the flight out of Spanish and Italian bonds continues, analysts say.
Just a few weeks ago the head of the IMF, Christine Lagarde, looked at Greece and declared "economic spring is in the air".
The scale of market pressure on Spain is not justified given the reforms being undertaken by its government and the European Central Bank still has its bond-buying program as an option
Italy's one-year borrowing costs rose for the first time since November at a sale of short-term bills on Wednesday
Spain's banks are fast joining the ranks of the most unloved in Europe
A top Swiss court has blocked the handover of information about a Credit Suisse client to US authorities.
A village in Spain has failed to back a plan to grow marijuana to pay off debts created during the financial crisis.
Farmers who claim more EU subsidies than they should, or who break Common Agricultural Policy rules, are now more likely to be caught out by a camera in the sky than an inspector calling with a clipboard.
London equities rebounded at the end of trade on Wednesday..
...the leader of the country's far right National Front - currently forecast to come third in the race - has a tough fight on her hands.
Germany offered the lowest ever yield for its 10-year government bonds on Wednesday