Where is sovereign-debt contagion taking the eurozone?

04/29/2010 | Economist (free content), The

The price tag for the Greek bailout is getting bigger, and the bond market is wondering whether the debt crisis will grow to include Portugal, Spain, Ireland or Italy, according to The Economist. In a surprising twist, fallout in the currency market could breathe life into Europe's economic recovery by boosting eurozone exporters. Investors' flight to safety has lifted the U.S. dollar against the euro. "That at least is some comfort for members of the [eurozone]," The Economist notes. "When countries accounting for more than a third of its [gross domestic product] are struggling in export markets, that is exactly what they need."

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Economist (free content), The

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