Mohamed El-Erian: Untreated, the Greek infection now threatens Europe’s core Permalink

Mohamed El-Erian: Untreated, the Greek infection now threatens Europe’s core Permalink Europeans, and with them the rest of the world, are discovering what all doctors know – a persistently misdiagnosed and incorrectly treated infection can eventually threaten even the healthiest part of the body, thus requiring more drastic medical intervention whose effectiveness is less assured.

This is what is happening in Europe today. A debt and growth crisis in the outer periphery of the eurozone (Greece) has been allowed to destabilise the inner periphery and the outer core (Ireland, Italy, Portugal and Spain). In addition, signs of dislocations are now visible in the inner core – both through the banking system and directly.
http://link.ft.com/r/9ULF66/YBC66Y/5C0ZLF/168R7N/JERY6F/AZ/h?a1=2011&a2=10&a3=5