YahooFinance-Bloomberg/Carolynn Look/6-27-2022
“European Central Bank policymakers gather on a Portuguese hillside on Monday with the sinking feeling that their rush to tackle the inflation shock they failed to forecast risks both a recession and echoes of the euro area’s sovereign debt crisis.”
USAGOLD note: New crisis same as the old crisis? The fear of sovereign defaults inspires a wave of selling which drives up rates for the nation-state in question. “The ECB,” says one analyst (a former BoE policy maker), “is in great difficulty.” That happened quickly………
