Tables below show the swing in risk assessments away from PIIGS to net contributors to the EFSF/EFSM/ESM alphabet soup concocted by the EU to powder over the gaping wounds left by the earlier stages of sovereign debt crisis. Why?
Absent long-term trend we can only speculate, but can it be the ever-widening liability being loaded on Finland, Austria and Netherlands under the current euro area 'burden-sharing' arrangements? Or are the markets re-assessing the prospects for the euro bonds?
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