Europe debt crisis escalates

LONDON — Europe's economic crisis sharply escalated Monday as investors bet on a messy default in near-bankrupt Greece that could cost its creditors billions in losses, threatening an array of major European banks sitting on massive stockpiles of troubled debt.

Concern was mounting amid indications that European leaders — particularly in Germany, the largest donor to Greece's bailout — may be tiring of the two-year old fight to prop Athens up through rescue loans. Those fears drove stock markets down and sent the borrowing costs of other troubled European economies, including Italy, soaring.

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Steven Mufson 13 Sep, 2011

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Source: http://feeds.washingtonpost.com/click.phdo?i=a455be33ad90cece2c0fc8f7dc4ada1c
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