Ireland's bailout has left investors unconvinced

Losing belief in bailouts

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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 une

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