Europe Is Having A Bad Morning Amid Slew Of Ugly Headlines

The euro, which started diving early in the Asia section, continues to slide.

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The first contributor to the euro’s was obviously the big day for the anti-bailout True Finns.

Now Moody’s is downgrading all of Ireland’s bank to junk.

Also, there have been several rumours this morning that Greece is about to do a debt restructuring, something the government officially denies. Greek 10-year yields are nearing 14%!

In addition to the selloff in the euro, European equity markets are down across the board.

Update: Now Spain just had a bad short-term debt auction.

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