7/21/2008

Prices of credit-default swaps for Italy, Spain, Greece, Portugal and Ireland have increased, while CDS prices for Germany and France have stayed fairly even. Many investors think the two largest eurozone economies will weather the storm better than others. "For a long time the economic environment was benign, but the party has now come to an end for the eurozone and particularly the peripheral economies, such as Italy and Greece," said Thomas Mayer, Deutsche Bank's chief European economist.

Related Summaries