IS THE WORST NOW OVER FOR ITALY AND SPAIN?
ZACH RIVERS | BUSINESS MONITOR INTERNATIONAL
“Not yet – it’s going to take a while. They will pull through but I don’t think we’ll be out of this European trouble for at least three years. Can Sarkozy and Merkel force creditors to take a hit? They’re still faffing around.”
CHRIS ARD | IRISH BANK RESOLUTION CORPORATION
“No, and it won’t be for a long time to come. The system is still the same and nothing has really changed – youth unemployment in Spain is above 50 per cent, for example. They need to drastically improve their industry.”
ELIZABETH WALKER | ORIEL SECURITIES
“Greece still has a strong bearing on the Eurozone as a whole, which will continue to affect Italy and Spain. Historically the biggest crashes seem to come in June to August, so this could be the calm before the storm.”