Risk managers search for eurozone defences

Danger zone


After Europe agreed a €750 billion support package for eurozone countries in May, there was a period when it was possible to imagine the gambit had worked – that it had restored investor confidence and bought time for peripheral countries to get back on their feet. It was nice while it lasted, but Ireland’s bail-out in November changed the mood completely.

Now, risk managers are getting used to the idea of a crisis that will rumble on – dormant for months then bursting into life when sovereign

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