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European stock markets rocked by panic selling as debt crisis reignites

Posted By admin On April 11, 2012 @ 3:19 am In Money Watch | Comments Disabled

Heather Stewart, Larry Elliott and Giles Tremlett
London Guardian [1]
April 11, 2012

Europe’s sovereign debt crisis exploded back into life on Tuesday, with markets across the continent rocked by a wave of panic selling amid renewed fears about the impact of savage austerity measures in Spain and Italy.

The mood of uneasy calm seen across Europe since the Greek bailout in February was shattered as financial markets took fright at evidence of a double-dip recession and growing popular opposition to welfare cuts and tax increases.

Italy and Spain, the eurozone’s third and fourth biggest economies, were at the centre of the market turmoil, with investors demanding an increasingly high premium for holding their bonds.

“Spain is right in the centre of a European storm,” admitted finance minister Luis de Guindos, who declined to rule out an eventual bailout but insisted it could be avoided.

Full article here [1]

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URLs in this post:

[1] London Guardian: http://www.guardian.co.uk/world/2012/apr/10/european-stock-market-panic-selling

[2] World stock markets plunge as global crisis deepens: http://www.prisonplanet.com/world-stock-markets-plunge-as-global-crisis-deepens.html

[3] Will Financial Problems In Portugal Cause The European Debt Crisis To Spiral Out Of Control?: http://www.prisonplanet.com/will-financial-problems-in-portugal-cause-the-european-debt-crisis-to-spiral-out-of-control.html

[4] Euro-Zone Debt Crisis Escalates: http://www.prisonplanet.com/euro-zone-debt-crisis-escalates.html

[5] Debt crisis: Spain and Italy to be bailed out in £600bn deal: http://www.prisonplanet.com/debt-crisis-spain-and-italy-to-be-bailed-out-in-600bn-deal.html

[6] U.S. Must Control Debt “Or Face Possible Panic in Financial Markets”: http://www.prisonplanet.com/u-s-must-control-debt-%e2%80%9cor-face-possible-panic-in-financial-markets%e2%80%9d.html

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