Friday, May 14, 2010

Markets Slump as Euro Falls and Greece Jitters Return

New York Times
May 14, 2010

After a nearly $1 trillion rescue package meant to end Europe’s debt crisis once and for all, financial markets took a second look Friday and began to worry about how the plan would actually work and the implications of the drastic austerity measures for the fragile European economies.

The worries sent financial markets into a tailspin in Europe and the United States, only five days after the European Union and the International Monetary Fund hoped their $957 billion package would signal a “shock and awe” commitment to ending the continent’s crisis.


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