Europe’s Banks Continue to Feel Pinch from Debt Crisis |
| New York Times - May 15, 2012 |
The pain facing European banks does not show signs of ending any time soon.
After a strong rally in Europe’s stock and bond markets in the first three months of the year, financial institutions are again gearing up for the fallout from the economic instability caused by the sovereign debt crisis.
Top of the list is Greece’s potential exit from the euro currency.
Earlier this year, that possibility seemed remote. Now, JPMorgan Chase analysts give the country a 50-50 chance of leaving the monetary union over the next 12 months. British bookmakers, which had been taking bets on potential Greece’s exit, suspended betting last week after a surge of bets drastically cut the odds on the country calling it quits.
Uncertainty continued on Tuesday when the Greek politicians said they would hold new elections after local political parties were unable to form a coalition government.
Read Full Article from New York Times
- Posted: 2012-05-15 10:03:59
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