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Monday, October 20, 2014

Markets right to worry about euro zone | Hugo Dixon

Markets right to worry about euro zone | Hugo Dixon



""As if this were not enough, the euro zone continues to inflict wounds on itself. The latest was Greece’s rush to exit its bailout programme. The bond markets reacted by pushing up Greek bond yields last week to such a level that Athens’ ability to stand on its own two feet is off the agenda for the foreseeable future.

Meanwhile, a snap election may be held in Greece early next year. That would probably be won by the radical left Syriza party, which wants to write off half the government’s debts. This could cause contagion in Italy, whose debts are an eye-popping 137 percent of GDP."""
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