“Grecian Vortex”

Published 28 October, 2011, 01:00, CEST+1 | By the trader

From the Telegraph.

“Portugal appears to have entered a Grecian vortex and monetary trends have deteriorated sharply in Spain, with a decline of 8.4pc,” said Simon Ward, from Henderson Global Investors. Mr Ward said the ECB must cut interest rates “immediately” and launch a full-scale blitz of quantitative easing of up to 10pc of eurozone GDP.