How Far Will the PIIGS Fly?

How Far Will the PIIGS Fly?: "

How high is the risk of insolvency for Portugal,
Ireland, Italy, Greece and Spain, the most indebted countries in the Euro?
Fears are spreading in financial markets, raising interest differentials (350
basis points for Greece,
and more than 150 points for Ireland),
and CDS premia on sovereigns’ default, weakening the Euro, down 9% from
December, and sending shivers across European equity markets. Are these
fears well or ill-founded? What lessons can we learn from past crises?

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