Italians Catch Spanish Fever

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The Eurozone debt turmoil has spread to Italy, with the country’s borrowing costs on its three-year bonds skyrocketing to their highest level since December. Meanwhile, German Chancellor, Angela Merkel, played down expectations that Germany alone can solve the Eurozone crisis and warned that German strength is not infinite. In his speech earlier today, the ECB President Mario Draghi, offered no hints of any stimulus measures and transferred the onus on to the region’s politicians to tackle the debt crisis.

At home, the BoE Governor, Mervyn King, hit the panic button as he warned that the case for additional easing has strengthened amid rising global economic woes.

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Italians Catch Spanish Fever

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