Eurocontagion: caveat emptor!

The Apocalypse Trade - NYTimes.com: ". . . German bonds are now being priced as a risky asset — what the FT calls the “apocalypse trade“. The interest rate on bunds, at 2.21% as I write this, is still very low by historical standards. But it’s above the rate on UK bonds (2.17%) and way above the rate on US bonds (1.88%). The way to see this is that the market is in effect pricing in a real possibility of eurozone collapse. . . ." Paul Krugman in the New York Times

How safe are the euros in your pocket or bank account?

Debt crisis: as it happened November 24, 2011 - Telegraph: "The FTSE 100 loses £107 billion during nine straight days of losses, as a meeting between French, German and Italian leaders offers little progress on resolving eurozone debt crisis."


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