As Ireland flounders the EU moves towards a bailout
Written by Simon Tilford, 17 November 2010
Simon Tilford, chief economist at the London-based Centre for European Reform, says that unless the EU intervenes, investors will believe that default is inevitable and demand correspondingly punitive interest rates. "Contagion to other member states will be all but inevitable," he says. "If, and when, it reaches Spain, the crisis risks spiraling out of control."
Link to press quote:
http://www.time.com/time/business/article/0,8599,2031792,00.html
