Europe

摘要

More than a year into the Eurozone sovereign debt crisis, tensions show no sign of abating. Instead, as the risk of some form of debt restructuring in Greece has risen in recent weeks, the crisis has reached a new stage with signs of financial contagion starting to spread from the 'periphery' to the 'core' Eurozone. The passage by Greece of a new set of austerity measures brought only short-lived relief to bond markets, as arguments have continued about whether and how to make the private sector (including banks and insurance companies) contribute to the costs of Greece's bailout.