By Alex Ellis

As I am sure you are aware, Ireland has been one of the most talked about economies in recent times as it became apparent that their economy was insolvent. Although a bailout has been agreed there is now the added fear of contagion to other economies within the Eurozone – Portugal, Spain and Italy are the most heavily mentioned followed closely by Belgium.

Belgium is the newest country to be mentioned alongside the typical PIIGS and this is because as the cost of their debt is 100% of their annual income. I believe that over the next few weeks we will see more and more releases that will show just how sluggish the recovery has been for the Euro zone. In my experience the Euro zone will quite often keep their cards very close to their chest whereas the UK and US are very upfront about the state of their economies.

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