The Independent (July 13)
2011/ 07/ 13 by jd in Global News
“The nightmare of full eurozone contagion appears to have moved a step closer.” Yet policymakers remain in denial. Until they leave this denial behind, attempts to tackle collapse will remain elusive. European leaders must realize the debt crisis essentially renders many European banks insolvent, it is nearly impossible for indebted countries on the periphery to grow themselves out of crisis while hedged in by the common currency and, lastly, that the eurozone could indeed crumble.
Tags: Banks, Contagion, eurozone, Policymakers
