Pain in Spain May Bring No Economic Gain: News Analysis
Bill Gross put Spain's failed bond auction in perspective: “Greece was a zit, Portugal is a boil, Spain is a tumor. You can’t fix a debt crisis with austerity and more debt.”
Europe’s Creditanstalt Moment—Is It Really 1931 Again?: News Analysis
Historians might one day wonder why it was that at exactly the time the European model was crumbling, the U.S. chose to weaken itself with similar policies.