, Columnist
The Sick Men of Europe Rise, But for How Long?
Greece and Italy shrug off high debt and weak economic growth to clinch successful bond sales in comeback runs.
Is it too soon to celebrate?
Photographer: Balint Porneczi/BloombergThis article is for subscribers only.
If you want a snapshot of how far the euro zone has come, look no further than Greece and Italy.
Until recently, the two Mediterranean countries have been considered the sick men of Europe, as investors demanded hefty premiums to hold their sovereign bonds. These extra charges were all the more striking given the steep fall in the yields of other countries that had been engulfed in the sovereign debt crisis of the early 2010s, namely Spain, Portugal and Ireland.