Until recently, the concern about Europe has been mostly theoretical--a potential train-wreck that would occur if/when the world's lenders decided that the continent's problems extended beyond the basket case known as Greece and cut lending to Europe's "core."
Well, according to BusinessInsider that concern is no longer theoretical. It's happening.
The world's lenders are increasingly deciding that it's better to be safe than sorry, and they're pulling their money out of Europe. As a result, the borrowing costs of many European countries are rising fast. And so are inter-bank lending rates, because the second huge problem with the Euro-train-wreck is that Europe's banks have Euro debts coming out of their ears.
Read more at http://www.businessinsider.com/the-run-on-europe-begins-as-global-investors-head-for-the-hills-2011-11
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