The Return of the Euro Crisis

Some volatility has crept back into the markets in the past few days, largely driven by negative news flow out of Spain (the latest country to come under pressure as a result of the European debt crisis). This probably didn’t come as a surprise to most professional investors, but it might have to Europe’s esteemed leaders, one of whom declared just a few days ago that the crisis is “almost over,” while another described it as “ebbing.”