“The G7 countries are completely asleep at the wheel. I looked at the information they put out from their meeting I was absolutely shocked … they seem to show no awareness at all that much of Europe is facing a serious crisis and it’s not limited to Spain, Greece and Portugal, it’s also going to include Ireland. I think Italy is also very much in the line of fire. There’s a very serious crisis inside the Euro-zone.”
Former IMF chief economist Simon Johnson commenting to the BBC about the Euro-zone crisis on Sunday.
(H/T BNY Mellon Research)
Related links:
When G7 bond yields tell you nothing – FT Alphaville
Chart du jour – sovereign risk - FT Alphaville