Ireland's bailout has left investors unconvinced

Losing belief in bailouts


One of the more misjudged proclamations of 2010 came from Spain’s prime minister José Luis Rodríguez Zapatero on September 21 when he declared: “The debt crisis affecting Spain and the Eurozone in general has passed. Confidence has been restored.”

Perhaps the Spanish premier was fooled by the traditional summer lull in the markets; but there seemed little doubt attention would again turn to peripheral Eurozone economies. Despite Zapatero’s comment, the serious issues of sluggish growth, high

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