Brendan Keenan: We're back in crisis -- all we can do is argue that everything is under control
WE WON'T turn a problem into a crisis, one insurance company used to say in its advertising campaign. In the view of many, that is exactly what euro-area leaders have done with the Greek problem.
It is certainly a crisis now.
"Utter panic" is how one analyst described the market for shorter-term government debt yesterday.