Descent from Greek euphoria

A warning from Citigroup’s chief economist that Spain may be forced into a debt restructure has reignited concerns over Europe's economic crisis.

European debt fears again flared overnight after Citigroup’s highly regarded chief economist, Willem Buiter, warned that Spain may be forced to go down the Greek route and restructure its crippling debt burden.

"Spain is the key country about which I’m most worried,” Buiter said in a radio interview with Bloomberg. "It’s really moved to the wrong side of the spectrum and is now at greater risk of sovereign restructuring than ever before.”


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