Europe Is Having A Bad Morning Amid Slew Of Ugly Headlines

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


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.