Loans and Finance

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Friday, November 26, 2010

Contagion

The fears of the contagion, from the Irish sovereign debt crisis, spreading appear to be justified. Spain is now the target of the market's fear and greed.

Spanish bond prices are rising, and the Euro is falling.

The EU's bailout fund of Euro 1 Trillion will not be enough to prop up Spain, Greece, Ireland and Portugal.

Something has got to give.

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