Guardian
June 13, 2012
Markets want certainty from the Greek elections. Only a clear signal from Athens that the Greek people are prepared to knuckle down and pay what's left of their debts will settle the nerves of jumpy investors.
The Spanish bank bailout failed to calm fears that the eurozone is, if not close to breakup, then unable to prevent years of debilitating political wrangles and social unrest.
Within hours of the agreement, Madrid's borrowing costs started to rise and alarmingly, so did Rome's as lenders raised the interest rate on loans to Italy's government and banks.
Of the eurozone's 17 members, eight are in serious financial trouble. Three already depend on Brussels for new loans, including Greece, while Cyprus has signalled it may need a €20bn (£16bn) lifeline and Malta is deep in recession.
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