Europe's Firewall Has Some Loose Bricks

Efforts to isolate the contagion are not reassuring investors
President of the European Central Bank Mario Draghi arrives to address a meeting of the Association of German Banks in Berlin Photograph by John Macdougall/AFP/Getty Images

As Europe veers from one crisis to another, financial authorities led by European Central Bank President Mario Draghi have reassured the rest of the world that they have the firepower in place to keep the euro intact. Bond traders aren’t buying it.

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