Capitulation fever has swept global markets on triple fears of faltering recovery in the US, Chinese credit curbs and Europe's debt crisis. 21 May 2010 Investors rush to Switzerland as Germany's long-awaited toxic debt "grenade" explodes causing panic across the markets. 19 May 2010 The world's fund managers have seen the sharpest drop in risk appetite since the dotcom recession. 18 May 2010 Foreign holders of Greek and Portuguese debt exit their positions, leaving eurozone taxpayers exposed to the credit risk. 17 May 2010 Jean-Claude Trichet tells us the world faced a second Lehman crash in the days and hours before EU leaders launched their €720bn (£612bn) defence fund. If the European Central Bank’s president is correct, we are in trouble. The EU-IMF package is already unravelling. What will the West do for its next trick? 16 May 2010 Portugal is to impose fresh austerity measures to cut the budget deficit and regain the confidence of bond markets. 13 May 2010 Spain imposes 1930s-era cuts to slash deficit in exchange for €720bn `shock and awe’ rescue for eurozone debtors. 12 May 2010 Central bank risks irreparable damage to its reputation by agreeing bond purchase in defiance of the Bundesbank. 11 May 2010 Europe's leaders appear poised to begin creating a EU debt union and authorize the European Central Bank to stabilize eurozone bond markets. 09 May 2010 Debt costs surged across the eurozone periphery after the European Central Bank ruled out using "nuclear option" to stabilise the bond markets. 06 May 2010 The euro fell sharply and world markets continued to slide after the ECB failed to calm Greece contagion fears. 06 May 2010 The euro continued to weaken and bond investors remained nervous of ahead of a crucial European Central Bank meeting and a "crossroads" summit of eurozone leaders. 06 May 2010Ambrose 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.
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Sunday, 23 May 2010
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