Similar to other Eurozone countries, Spain’s denial was followed by admissions of significant financial problems. In this light, the Eurozone makes progress with each admission. However, topics needing clarity include:
- how large are the region’s economic problems,
- how effective will responses by policies makers be,
- how vulnerable is the region to social unrest and
- what impact will the Eurozone have on the global economy? Stabilization was the tone across many global markets last week – but the duration between positive and negative market swings may be contracting.