Funds flee Greece as Germany warns of "fatal" eurozone crisis
Germany has triggered a near-panic flight from southern European debt markets by warning that there will be no EU bail-outs, even though it fears the region's economic crisis has turned dangerous and could prove "fatal" for the entire eurozone.
By Ambrose Evans-Pritchard
Published: 8:14PM GMT 28 Jan 2010
The yield on 10-year Greek bonds blasted upwards by over 40 basis points to 7.15pc in a day of wild trading. (...) Contagion hit Portuguese, Spanish, Irish, and Italian bonds.
(...)[Germany's] economy minister Rainer Brüderle (...) said there would be "no bail-outs" for struggling debtors and no move to a "European economic government".
"A few European nations are exhibiting dangerous weaknesses. That could have fatal consequences for all countries in the eurozone," he said. Despite the warning, he said each country must solve its own problems.
Adding to worries, Moody's has issued an alert on Portugal's "adverse debt dynamics", saying Lisbon needs a "credible plan" to reduce a structural deficit stuck at 7pc of GDP rather than "one-off measures".
A Moody's pode não ser o Papa da economia e das finanças, mas aparentemente a sua influência é tremenda e este artigo pelo menos indica o que se vai comentando também lá fora sobre o que se passa nestes países que vivem como se o Carnaval devesse durar a vida inteira.