Deepening eurozone crisis? - Inside Story - Al Jazeera English
The number of countries in economic trouble has grown in the last two years, leading many to believe that the Eurozone crisis is worsening. Economic crisis and political turmoil have spread to Greece, Italy, Spain, Portugal and Ireland.
Meanwhile, one country - Germany - above all other members of the 17-nation eurozone has been seen as totally safe, solid and stable.
But the economic powerhouse of Europe has had a rude awakening of its own as a recent sale of government bonds flopped. Investors bought less than half of the $8bn in German bonds on offer - usually considered a safe bet. The failure sent stocks diving across the globe and the euro slid to a seven-week low against the dollar.
As the leaders at the helm of the Eurozone's three largest economies met in Strasbourg on Thursday, the questions being asked are: If Germany failed to sell their prized assets, what hope does the rest of Europe have?
How worried should we be? And what is the fallout for the entire Eurozone, already reeling from a worsening economic and financial situation?
Inside Story, with presenter James Bays, discusses the repercussions of an economic and financial crisis in Germany with guests: Angus Campbell, the head of sales for London Capital Group; Richard Milne, the capital markets editor at the Financial Times; and Tim Ohlenburg, a senior economist for the Centre for Economics and Business Research in London.
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