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May 25, 2012

Economy: Economic News, Policy & Analysis - The Washington Post: Wonkbook: The bad news Brits

Economy: Economic News, Policy & Analysis - The Washington Post
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Wonkbook: The bad news Brits
May 25th 2012, 12:04

Uh-oh: "The eurozone crisis has led to the region's economy contracting at the fastest pace for almost three years and sent German business confidence tumbling this month."

That's from the Financial Times, which I do not recommend reading this morning if you have a history of medical conditions triggered by stress, panic, or apocalyptic economic news. Elsewhere in the paper, Gillian Tett writes that "banks are increasingly reordering their European exposure along national lines," which means that "while pundits engage in an abstract debate about a possible break-up, fracture has already arrived for many banks' risk management departments." And David Oakley and Alice Ross report that "some of Europe's biggest fund managers have confirmed they are dumping euro assets."

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