Eurozone periphery borrowing costs soar

Article reports that the cost of borrowing for Portugal, Ireland and Greece hit euro-era highs in early March 2011, amid concern in the market that European leaders would fail to take concerted action at EU and eurozone summits later in the month to dispel fears of sovereign defaults in the eurozone.

ESO: Background information: Moody’s slashes Greek debt rating by three notches http://www.europeansources.info/record/moodys-slashes-greek-debt-rating-by-three-notches/

ESO: Background information: Portugal must put pride to one side http://www.europeansources.info/record/portugal-must-put-pride-to-one-side/

ESO: Background information: Europe wary of rethink over Irish bail-out http://www.europeansources.info/record/europe-wary-of-rethink-over-irish-bail-out/

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