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Europe's Debt Crisis: Expect More Trouble Across the Pond
Oleh:
Vadera, Shriti
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
Fortune vol. 164 no. 4 (Sep. 2011)
,
page 33.
Topik:
Europe's Debt Crisis
;
Bailout Agreement
;
European Central Bank
;
Economic Conditions
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
FF16.46
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
The bailout agreement reached this summer to stop Europe's downward spiral did not even buy time for its sacrosanct August holidays. Within two weeks of the pact, a reluctant European Central Bank was forced to step into the breach and buy Italian and Spanish bonds to counter the market's assault. Leaders had agreed that Europe's bailout fund could buy sovereign bonds in such a situation, but the deal has not yet been ratified by national legislatures, and in any case the bailout fund doesn't have sufficient resources for the job. Inevitably, the focus turns to the country next on the firing line: France, the eurozone's second-largest economy. You can expect the period ahead to oscillate between stagnation and the specter of chaos.
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