Forget Ireland: All Of Europe Is An Economic House Of Horrors

euro burning

Photo: Markusram on flickr

Ireland finally got its bailout this weekend, at a cost of an average interest rate of 5.8%.The costs might be far bigger for the eurozone, however, with markets now turning toward Portugal and Spain.

And with the broader European economy showing signs of disturbance, the whole region could be on the brink of a slowdown that would leave Spain’s housing situation, and bank stability, in some doubt.

In France, the consumer spending is dipping.

In Germany, inflation is growing, which may tempt the ECB to tighten.

Across the eurozone, loan growth is still weak and the money supply is shrinking.

In the eurozone's largest economies, export growth is starting to slow.

In Portugal, banks are still need significant need of significant ECB help.

In Spain, home prices are still in decline, which may further damage banks.

In Spain and Portugal, private debt is a significant problem.

Portugal is taking its time correcting its current account balance.

Spanish citizens are ready to protest over any proposed austerity measures.

But what might trigger the Europe wide slowdown that would crush exports and may make Spain's situation critical?

China may tighten further to fight inflation, potentially crushing European exports.

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