Alan Wheatley: First it was Grexit, now it’s Spanic and soon Eurover. When will this hysteria end?
Published 26/07/2012 | 15:26
AS talk persists that cash-strapped Greece might have to exit the euro, and bond markets panic over Spain, the fate of Europe's single currency could soon be hanging in the balance again.
After "Grexit" and "Spanic", is it finally time to get ready for "Eurover"?
The euro certainly seems in danger of market-driven disintegration, as signalled by wildly divergent borrowing costs among the nations sharing the currency. Bond yields in Spain are at euro-era highs because investor confidence has evaporated, while yields on two-year German notes and 12-month Dutch bills are negative.
