With Americans transfixed by the commemoration of 9/11 this weekend, it was easy to miss the economic ill tidings emanating from Europe.
Bloomberg notes that the possibility of a default by Greece seemed to rise over the weekend as Juergen Stark quit the European Central Bank’s (ECB) executive board on Friday over his opposition to the ECB’s purchases of bonds from debt-laden countries such as Spain and Italy. Indeed, the article cites a "growing concern about the smaller nation’s ability to repay investors."
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