Eurozone’s Lehman moment
Quick refresh of the situation in Europe. Fo further insight read our post http://www.thetrader.se/2011/05/25/similarities-between-belarus-and-greece/
In what’s been described by some economists as the Euro-zones “Lehman moment”, recent times have seen the economic condition of Europe’s peripheral nations once again under the microscope. From ratings downgrades, to debt yields at unworkable levels, the path to economic composure for Europe’s most indebted nations appears rockier than ever. No longer are the debt concerns confined to Portugal, Ireland and Greece – market participants are once again considering the economic fall-out in the less troubled nations such as Italy which has been thrust back in the spotlight after rating agency Standard and Poor’s put Italian debt on negative credit watch. With that, Italy has now rejoined its tenure alongside the rest of Euro-zone’s “PIIGS” – referring to nations perceived to be most at risk of economic meltdown – Portugal, Ireland, Italy, Greece and Spain.