Wednesday, December 30, 2009

Sovereign Debt Update: Europe At Great Risk

Here is a great follow-up on our article on sovereign debt risk. The Wall Street Journal has a map of the risks in Europe:

Says the WSJ article: "After two years of crashing banking systems and economic recession, the euro zone enters 2010 with a full-blown debt crisis. The European Commission warns that public finances in half of the 16 euro-zone nations are at high risk of becoming unsustainable".

"Half of the 16 euro-zone countries are deemed to be at "high risk" in terms of the sustainability of their public finances. See an overview of each country's economic data. Governments will spend the next year and beyond balancing the urgent need to fix public-sector debt and deficits -- without imperiling what appears to be a feeble economic recovery. Even the staunchest optimists in Brussels and Frankfurt see a rocky process, with rating firms poised for more downgrades and bond markets meting out daily judgment over how governments are doing".

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