Europe's governments are at increasing risk of an interest rate shock this year as the lingering effects of the Great Recession drive debt issuance to record levels and saturate bond markets, according to Standard & Poor's. 12 Mar 2010 UniCredit says Britain is at serious risk of a bond and sterling debacle and faces deeper woes than Greece. 11 Mar 2010 France has vowed to retaliate against the US for allegedly shutting Europe's aviation giant EADS out of a $50bn defence contract. 10 Mar 2010 Europe's leaders have launched a concerted attack on financial speculation, blaming the crisis in Greece on the use of debt derivatives by hedge funds. 10 Mar 2010 Fitch Ratings has delivered a serious blow to the credibility of the Government's budget plans. 09 Mar 2010 Barack Obama's home state of Illinois is near the point of fiscal disintegration. "The state is in utter crisis," said Representative Suzie Bassi. "We are next to bankruptcy. We have a $13bn hole in a $28bn budget."Ambrose Evans-Pritchard
Ambrose Evans-Pritchard has covered world politics and economics for a quarter century, based in Europe, the US, and Latin America. He joined the Telegraph in 1991, serving as Washington correspondent and later Europe correspondent in Brussels. He is now International Business Editor in London.
LATEST FROM AMBROSE EVANS-PRITCHARD
Eurozone could risk 'sovereign debt explosion'
Europe's banks brace for UK debt crisis
France vows retaliation in US air tanker dispute
Europe eyes ban on CDS contracts used against Greece
Fitch warns Britain and questions Greek rescue
Don't go wobbly on us now, Ben Bernanke
Sunday, 14 March 2010
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