The forces of contagion in the eurozone appear unstoppable. On Thursday investors drove yields on both Italian and Spanish debt to new highs, as fears grew that last month’s Greek rescue deal would prove insufficient to stop Europe’s financial rot. Without swift action from the European Central Bank, this will prove to be a contagion process with a disastrous end.
欧元区债务危机的蔓延之势似乎无可阻挡。随着市场对于上月希腊纾困方案将不足以阻止欧洲财政问题恶化的担忧加剧。上周,投资者将意大利和西班牙两国债券的收益率都推至新高。如果欧洲央行(ECB)不迅速采取行动,这将会成为一个带来灾难性后果的蔓延过程。
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