Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Eurointelligence this morning has this appreciation:

Yesterday, a bund auction flopped for the first time in living memory - as a result of which the entire eurozone no longer has a viable bond market. The flop was a major global event. It sent share price tumbling. Financial investors are now heavily betting on the break-up of the eurozone. Having held up well during most of the crisis, the euro declined to $1.33. Despite the 200bp jump in German yields, Italy's 10-year spreads rose back above 500bp, and Belgium's are now at 350bp.With every day of complacent and ignorant political announcement, especially from Berlin, the crisis deteriorates, and the cost of crisis resolution increases.
by afew (afew(a in a circle)eurotrib_dot_com) on Thu Nov 24th, 2011 at 03:07:01 AM EST
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