euro debt crisis

I was pleased to read an excellent article by Liam Halligan in the Telegraph today, about the 'real' problem in Europe. While the focus of the media is on the potential break-up of the Euro and the plausibility of various bailout packages, very few commentators have had the guts to tackle the...

(Apologies to Gerald Ford) ECB Opposes Helping Fund Spain's Bankia So by refusing to bail out Bankia, they make Spain's position more precarious, increasing the likelihood that they will have to bail out Spain, or that, if they refuse to do that, Spain will default on its debts and banks all...

I thought it might be worthwhile to start a general thread on the events in Europe; how those events may play out and the likelyhood and impact of various scenarios on the financial system and the global economy. I'm mainly interested in exploring the 'worst-case' scenario. What is the...