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Candidate for the Next Dubai

As creditors raced to Dubai the question in everyone’s mind seems to be where is the next Dubai going to be. Unfortunately in a post economic crisis world the number of candidates for that designation is growing. CNN has an interesting article on this subject and their call backed up by analysis from top economist is Greece. Why Greece?

The southern European state, with a long history of loose finances, is coming under attack in the credit markets for its excessive spending.

The Greek government’s cost of borrowing money has surged following a rating agency downgrade early in 2009. The cost of insuring its government bonds against default has soared tenfold since the financial crisis started brewing in 2007.

via CNN [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza