December 3, 2009 “There is absolutely no danger of default,” said Louka Katseli, the Greek minister of economy, competitiveness and shipping. (From “Trichet Says He Trusts Greece Will Take Right Steps,” Bloomberg News, Dec. 3, 2009.) Europe’s debt crisis only...Read more »
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Financial markets are on the edge as investors await a solution to the European debt crisis. This blog examines the banks that hold billions of euros worth of Greek, Italian, and other sovereign debt; the governments that must pay off or refinance that debt; and the implications for the worldwide financial system if they can't.
Analyses or commentary in this blog are the views of the author and or commentators, and do not necessarily reflect the views of Bloomberg News.