Double-dip recession growing more likely than 'soft landing' for Europe
After attempts to revive Italy, it will be Spain that decides the fate of the euro, writes former Irish hedge fund boss Sean Ewing
Published 27/11/2011 | 05:00
THE European debt crisis, which has been building since late 2007, is finally reaching an inflection point.
All the coverage of Ireland's miseries seems to belong to a distant past in euroland and in world markets. Portugal then Greece followed as the kicking boys of Europe.
However, all this bluster on economies of a "relative" small size (Greece's €300bn) was never going to threaten the greater position of the euro and its combined perceived strength. The European Central Bank, its stability fund and the Germans were all around the corner -- but so was Italy and Spain.