Today's Coming Crisis Movie

Thursday, November 17, 2011

Cameron heads to Berlin for Merkel showdown as Spanish bond yields hit 14-year high - 17th Nov 2011

David Cameron heads to Berlin today for crisis talks with German Chancellor Angela Merkel against the backdrop of economic turmoil in Europe.

Bond yields in Spain soared today pulling the country deeper into the debt crisis. It paid the highest rate to sell its 10-year debt since 1997, just shy of the 7 per cent mark seen as unsustainable.

Tensions between Cameron and Merkel could be fraught after a key ally of the German politician said European nations were now speaking German in that they were backing Chancellor Merkel’s diktats.

The comments caused fury among senior Conservatives, who say Germany’s refusal to prop up the euro threatens to drag the UK economy down as well. Read More