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Eurowrap 22/06/12

A focus on the key news and analysis surrounding the eurozone crisis

Markets falling in Europe after Thursday''s market mayhem 

Friday is off to a slightly more subdued start than Thursday, but we''re seeing deeper losses in Europe.

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Michael Hudson/Jeffrey Sommers: Latvia is no model for austerity 

Few commentators have spent enough time in Latvia to really understand what happened

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Citi''s Buiter goes all Maya on the Grexit 
Willem Buiter thinks the troika is "unlikely to tolerate another failure to comply on all fronts by the December assessment" leading to an end-2012 Armageddon a la the Maya.

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Is Grexit (im)possible?

The outcome of the elections in Greece brought momentary relief but did not bring an answer to the main question: whether ultimately the country will remain, or rather if it could remain, in the eurozone.

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Should we fret about Chindown?

There has been much discussion about the potential impact on the global economy of a Greek exit from the eurozone. Less debated is the effects of a softening of Chinese demand.

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