2011, the Year of All Dangers for the Euro

A quick look at the graphics gallery from the Spiegel Online (The Euro Crisis in Numbers) highlights the problem.

The amounts of government bonds coming due in 2011 will be peaking in Portugal, Spain, and Italy, and will reach short term new highs in Ireland and Greece: here, here, here, here, and here.

Further rises in bond rates are to be expected in the above countries, weighing even more on budgets and economic activity, increasing the demands for financial transfers and thus the tensions between the zone members. Add to that the 2011 elections in Germany and the prospect of the 2012 elections in France and all the elements of a deepening crisis appear to be present.