Time to Celebrate; The Euro-Zone Crisis  

Oleh:

[s.n]

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 406 no. 8819 (Jan. 2013), page 63-64.
Topik: Government Bonds; Securities Markets; Interest Rates; Deficit Financing; Economic Recovery

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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The squiggles on traders' screens showing changes in the prices of government bonds are the closest thing that financial markets have to ECG machines for economies. By this diagnostic measure the invalids in Europe's medical ward are making a remarkable recovery. On January 10th the interest rate on Spanish ten-year government bonds fell below 5% for the first time in almost a year. Even though rates then ticked up a tad, the cost of new government borrowing is now about 2.5 percentage points lower than it was when worries over a break-up of the euro area peaked in July 2012. The Italian patient is doing well too. The rate on ten-year Italian debt is approaching 4%, which is also close to 2.5 percentage points off the highs last year. Other measures show improvement as well.

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