Fears grow over woes of Europe’s periphery

Major feature analysing the cause of the increased nervousness amongst the financial community in November 2010 about the state of the economy in a number of the peripheral eurozone states sich as Greece, Ireland and Portugal - and the risk of debt defaulting or restructuring.

Germany’s insistence – at the European Council, 28-29 October 2010 – that any country wanting to tap Europe’s bail-out fund, the European Financial Stability Facility, should automatically default has been the driver behind this turn in sentiment.

ESO: Background information: Merkel’s sacrifices secure fragile triumph http://www.europeansources.info/record/merkels-sacrifices-secure-fragile-triumph/

ESO: Background information: Portugal: Peripheral nerves http://www.europeansources.info/record/portugal-peripheral-nerves/

ESO: Background information: Pressures on Dublin grow as debt costs soar and MP resigns http://www.europeansources.info/record/pressures-on-dublin-grow-as-debt-costs-soar-and-mp-resigns/

ESO: Background information: The Greek debt crisis of 2010 http://www.europeansources.info/record/the-greek-debt-crisis-key-sources/

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