Photo: NASA via Wikimedia Commons
Just over a week into 2011, we can the contours of what’s happening in the EU and its ailing peripheral states.The first is the obvious one: yields have been widening day in and day out, with all the big villains near record highs. The euro currency has generally been weak.
On the very flipside, there are more and more signs that the strong core players will step up and provide more support to the PIIGS. That news is bolstered today by a new report in WSJ that the bailout fund will be bolstered. This still probably isn’t enough — the PIIGS need ongoing support, not just a bigger bailout fund.
And the half-trend: The economy does seem to be getting better. There have been a slew of decent reports, and even some better than expected monthly fiscal reports.
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