When things are worsening in the eurozone, no one stokes the fears like Ambrose Evans-Pritchard at The Telegraph.
He’s out with his latest and focused on 5-year breakevens and some panicky comments from RBS and others:
Giulio Mazzolini and Ashoka Mody, from the Bruegel think tank in Brussels, said the eurozone seems to be tipping into a “debt-deflation cycle” as rising debt and deflation feed off each other, yet the authorities remain paralyzed and still refuse to face up the gravity of the threat. “Even now, ECB officials regard deflation to be unlikely,” they said.
