Greece goes down. Is Portugal next?

As Greece barreled closer to the edge of a debt default this week, fears that the crisis would infect other countries rattled the world’s financial markets. „It’s not a question of the danger of contagion,” Angel Gurria, the head of the Organization for Economic Cooperation, said. „Contagion has already happened. This is like Ebola.”

Greek crisis fears deepen

The yield on Greek bonds soared to record levels, again, a day after the S&P slashed its debt rating on the country to junk and amid reports that the IMF is considering loaning more money to the beleaguered country.