The Financial Times today reports on something John Wraith, fixed income strategist at BofA Merrill Lynch, said regarding the manner in which contagion is spreading within the eurozone economies. “It is like a group of climbers roped together. As Greece slips, it pulls down other countries such as Spain and Italy.” Precisely. But readers of this blog will remember where they read this allegory first. Yes, it was here, a post that appeared in this blog on 7th January under the title No More Domino Metaphors for the Euro Crisis: Mountaineering ones only from now on.
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