In early February 2022 - remember back then when inflation was still our principal concern - the ECB signaled a hawkish turn on monetary policy. What happened next? Italian and Greek debt sold off and their 10-year yields popped. It wasn’t a crisis by any means, but the tremor was significant enough to set nerves twitching. The last thing Europe needs right now is a new sovereign debt crisis.
Chartbook #111: What about Greece? Charting a…
In early February 2022 - remember back then when inflation was still our principal concern - the ECB signaled a hawkish turn on monetary policy. What happened next? Italian and Greek debt sold off and their 10-year yields popped. It wasn’t a crisis by any means, but the tremor was significant enough to set nerves twitching. The last thing Europe needs right now is a new sovereign debt crisis.
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