European Stock Markets Rocked By Panic Selling As Debt Crisis Reignites -- The GuardianInvestors demanding high premiums for holding Italian and Spanish bonds as fears of double-dip recession grow.
Europe's sovereign debt crisis exploded back into life on Tuesday, with markets across the continent rocked by a wave of panic selling amid renewed fears about the impact of savage austerity measures in Spain and Italy.
The mood of uneasy calm seen across Europe since the Greek bailout in February was shattered as financial markets took fright at evidence of a double-dip recession and growing popular opposition to welfare cuts and tax increases.
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Update: Stock and bond markets rocked by fears of Italian and Spanish debt spirals -- The Telegraph
My Comment: The reasons for this crisis are self evident .... too much debt .... not enough enough money to cover expenses and obligations. Add in a European population that is reluctant for more cuts .... you know that this is not going to end well at all.
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