The worsening economic and political situation in Greece is etched deeply into everyone’s psyche, as is the speed at which the problems spread to other peripheral eurozone states. Financial markets have lost confidence in a steadily lengthening list of countries, including some regarded until now as among the safest havens in the world. At the time of writing, France is in danger of being stripped of its triple-A status and even Germany, for the first time in the modern era, has run into problems persuading investors to buy its 10-year Bunds, a turn of events that would have been unthinkable not all that long ago.
via www.pictet.com
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