by Calculated Risk on 11/15/2010 11:35:00 PM

An overview from the NY Times: Europe Fears That Debt Crisis Is Ready to Spread

European officials, increasingly concerned that the Continent’s debt crisis will spread, are warning that any new rescue plans may need to cover Portugal as well as Ireland to contain the problem they tried to resolve six months ago.
...
Of paramount concern to policy makers in Europe is Spain, which is struggling to close its own deficit of 9 percent of G.D.P. at a time when unemployment is more than 20 percent and the economy is failing to grow.

Officials of both Ireland and Portugal are saying they are not asking for help - Ireland is funded until mid-2011. So this crisis might simmer for some time ...