Financial Times
December 12, 2010
Eurozone countries have to refinance more debt next year than at any time since the launch of the euro amid investors’ warnings that the debt crisis in the region will intensify in the new year.
Eurozone nations will have to refinance or repay €560bn ($740bn) in 2011, €45bn more than 2010 and the highest amount since the launch of the single currency in January 1999, says UniCredit, the Italian bank.
Investors warn that the pressures of refinancing will force Portugal to seek emergency loans from the eurozone bail-out fund as it follows Ireland and Greece into the casualty room.
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