Bloomberg (July 12)
2011/ 07/ 12 by jd in Global News
In Europe, contagion is spreading from Greece. “Exploding bond yields in Italy and Spain brought the crisis closer to the heart of the euro area.” Europe’s leaders now look prepared to reconsider measures they had previously ruled out, such as buying back Greek debt at a discount. Whether they can avert disaster remains to be seen. Italy felt the brunt of the expanding crisis as 10-year bonds rose 326 basis points over Germany’s, “a euro-era high.”
