Wall Street

Analysis-Market meltdown lays bare Europe’s divisions

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Reuters UK

By John O’Donnell, Huw Jones and Marc Jones LONDON (Reuters) – A markets sell-off has brought back memories of the euro zone debt crisis more than a decade ago, highlighting divisions that have plagued the currency bloc’s efforts to forge a closer bond. While the years since the debt crisis have seen the 19 countries in Europe’s euro area centralise and toughen bank controls, many planned economic reforms in Italy and elsewhere were watered down as vast money printing buoyed the economy. Spurred by fears higher borrowing costs will choke economic growth, the markets rout has exposed cracks in …

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