'Greece Is Clearly In Need Of Debt Restructuring' -- Spiegel OnlineThe international ratings agency Moody's downgraded Greek debt to junk status on Monday, another reminder that the euro crisis isn't over. German commentators on Tuesday say that the European Union must quickly find a way to free Athens from its mountain of debt.
Financial analysts have been saying for weeks that the euro crisis isn't over. Even as the European common currency has risen against the dollar, due in part to strong indications from European Central Bank head Jean-Claude Trichet that he plans to raise interest rates this spring, debt concerns have not evaporated.
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Update: Portugal edges closer to crisis.
Update: Spain's savings banks race to find funds by Thursday.
My Comment: Forget about Greece, Portugal, and Spain .... when I look at the above graph, it is easy to see that the U.S. financial situation is even more dire.
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