Here is more about the growing EU debt problem ...
U.S. markets will be closed Monday for Presidents Day. But investors will start anew Tuesday, with one eye on a bevy of domestic economic figures and earnings headlines. Still, most agree uncertainty about the debt problems in Greece, Portugal, Spain and Ireland are the wild card that would overshadow everything.
Concerns have already spread well beyond Greece. Fears of mounting debt loads throughout Europe accelerated Friday after statistics showed fourth-quarter gross domestic product in the eurozone grew by a paltry 0.1% pace.
Spain's banks are in very bad shape, with large amounts of overvalued real estate on their books. (Sound familiar?)
Now the EU minister is saying it's all contained. (Sound familiar?) Reminds us of when Bernanke said the subprime loan crisis was contained (just before the market crashed).
