Sovereign Debt Crisis Deepens in Euro-zone | IFCM UK
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Sovereign Debt Crisis Deepens in Euro-zone - 12.6.2012

The Spanish Banks rescue plan has only spread optimism in the markets for some hours, the European policy makers need to do more to resolve Euro-zone debt crisis. The Euro fell to the 1.2449 support level at yesterday’s close, pulling slightly higher in today’s trading session. The Spanish 10-year yield rose to 6.62 per cent testing the 2012’s high and speculation that Spanish government may need bailout is increasing. Lastly, Greeks will go again to the polls on Sunday where the radical left Syriza party could come to power with the promise to reject the bailout package from EU and IMF. The latter could lead to an exit of Greece from the Euro-zone. This week combination of the Greek elections, possible bailout for the Spanish government and Italy’s rising debt problems generate catastrophic scenarios for the euro-zone.
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