Greek Junk Contagion Presses EU to Broaden Bailout (Update2)

Germany delays, the crisis continues to spread, and there's little that can be done other than provide the perception of control. This problem is not limited to Greece or the European Union. The budgetary and funding crisis is spreading within the States of the American Union.

Europe’s worsening debt crisis is intensifying pressure on policy makers to widen a bailout package beyond Greece after a cut in the nation’s rating to junk drove up borrowing costs from Italy to Portugal and Ireland.

Source: bloomberg.com