While you were sleeping, Europe’s Greece crisis was deepening

This at the UK’s Guardian:

“The crisis in Greece could pose as big a risk to the global economy and financial markets as the collapse of Lehman Brothers did in September 2008”, said Julian Jessop, of Capital Economics.

He added: “It crystallises the worries about the dire state of the public finances in many countries in the same way that the collapse of Lehmans raised fears of a domino effect throughout the financial system.” Lee Hardman, a currency strategist at Bank of Tokyo-Mitsubishi UFJ, said: “There is evidence of contagion from Greece. The UK’s fiscal position is dire and I think the market is selling sterling on the back of that today.”

April is the cruelest month?

About Santi Tafarella

I teach writing and literature at Antelope Valley College in California.
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