Bank of Spain ordered lenders to face up to bad debts and set aside reserves of up to 30pc on property holdings to restore global confidence. 27 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 Spain's parliament passes a €15bn austerity package by just one vote, leaving the Socialist government nakedly exposed to popular fury. 27 May 2010 M3 money supply contracting at a rate matching the average decline from 1929 to 1933, despite near zero interest rates and fiscal blitz. 26 May 2010 The global credit system is flashing the most serious warning signals in almost a year on a variety of fears including escalating political risk in Asia. 25 May 2010 If Europe’s ultra-Left has so far reaped little dividend from the great "Crisis of Capitalism", this will surely change as the eurozone’s 1930s policies of wage deflation sap the credibility of the governing centre and the EU itself. 23 May 2010 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 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.
LATEST FROM AMBROSE EVANS-PRITCHARD
Spain orders banks to come clean on debts
Funds embrace America in flight from risk
Banks dump Greek debt on the ECB
Forget the wolf pack – the ongoing euro crisis was caused by EMU
Portugal takes its punishment with fresh taxes
EU imposes wage cuts on Spanish 'Protectorate'
Europe facing strikes over austerity packages
America's money supply plunges at 1930s pace
Double-dip fears over worldwide credit stress
Europe's deflation torture is a gift to the Far Left
'Perfect storm' as market tremors hit China, EU and US
Germany's 'desperate' short ban triggers capital flight
Sunday, 30 May 2010
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