Beware Contagion From Greeks Baring Rifts?
Thursday, June 16, 2011 Beware Contagion From Greeks Baring Rifts? Richard Barley of the WSJ reports, Beware Contagion From Greeks Baring Rifts: Euro-zone politicians may be fiddling while Athens burns. Tuesday’s meeting of finance ministers brought no progress on how to address Greece’s funding problems and avoid setting off a financial crisis. But conditions in European markets are deteriorating. The main risk from Greece has always been contagion, and that process is already under way. Most directly, prices of Portuguese and Irish bonds have fallen sharply, with 10-year yields rising above 11% and the cost of insuring their debt at … Read more