May 09, 2011

Greek debt pile opens new Euro crisis chapter

A new chapter in the Euro sovereign debt saga is beginning to unfold, after the shared currency had its most severe weekly drop since late last year, and one of its worst two-day since its introduction. The free-fall, which commenced on Trichet's dovish comments in last Thursday's ECB meeting, was exacerbated after Germany's Der Spiegel reported an incendiary article, suggesting Greece may be planning an exit from the eurozone.