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Forex News Recap: Risk Indicators Keep Climbing Despite Ireland Bailout, Euro Sinking
Written by article default Monday, 29 November 2010 15:33
The Euro-zone saw three significant developments today. First, Ireland got its $113 billion bailout, though that did not stop the fear of the spread of further contagion. Euro-zone finance ministers backed away from a proposal to have creditors to automatically incur losses in restructuring, and the maturity of Greek’s debt was extended to match the deal given Ireland. All 3 point to a Europe that is moving further away from discipline and had undermined the Euro.