Financial Times
March 9, 2011
The comparison between Iceland’s banking crisis and Europe’s debt version has been made before — most notably by Paul Krugman, and regarding Ireland specifically.
Iceland, the theory goes, declared a swift bankruptcy and devalued the krona. Ireland, locked into the eurozone union, has been unable to do the same.
That was Iceland vs Ireland.
We want you now to think of Greece, where spreads on government bond yields are reaching records reportedly on fears of haircuts. And we want you to glance at the below from William Porter and Helen Haworth at Credit Suisse’s credit team:
More
No comments:
Post a Comment