Britannia Radio

Citi Chief Economist Willem Buiter: A Spanish Or Italian Default Could Happen In A Few Short Days :

" I think we have maybe a few months -- it could be weeks, it could be days -- before there is a material risk of a fundamentally unnecessary default by a country like Spain or Italy which would be a financial catastrophe dragging the European banking system and North America with it.

Greek protests as France, Spain face squeeze:

— Greek police clashed with anti-austerity protesters and Italy announced sweeping reforms in response to a European debt crisis that on Thursday pushed borrowing costs for France and Spain sharply higher.

U.S. Banks Face Contagion Risk From Europe Debt:

U.S. banks face a “serious risk” that their creditworthiness will deteriorate if Europe’s debt crisis deepens and spreads beyond the five most-troubled nations, Fitch Ratings said.