Euro debt fears rise

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Stock markets wobbled, the euro fell and borrowing costs for Italy and Spain increased yesterday

By Daily Express reporter

STOCK markets wobbled, the euro fell and borrowing costs for Italy and Spain increased yesterday as weak business activity this month pushed the eurozone towards recession.

Fears over Europe?s debt crisis were heightened by the region?s purchasing managers? survey, which showed manufacturing in decline in powerhouses Germany and France.

With China?s manufacturing sector also shrinking in March, investor confidence which had built up following the European Central Bank?s injection of more than e1trillion (?830billion) into the eurozone banking system evaporated. The FTSE 100 fell 46.3 to 5845.6, while leading European stock markets were down by more than 1.5 per cent.

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FxPro economist Simon Smith added: ?The relative calm that has emerged in the eurozone fiscal situation has been shattered.

The relative calm that has emerged in the eurozone fiscal situation has been shattered

FxPro economist Simon Smith

?The data highlights the knife-edge that the eurozone is operating on, with even core countries struggling to grow at a sufficient pace to compensate for the ongoing recessions in several peripheral nations.?

ING economist Peter Vanden Houte warned: ?The debt crisis could come back with a vengeance.?

Source: http://www.dailyexpress.co.uk/posts/view/309935/Euro-debt-fears-rise/

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