European contagion risk is back — but this time it's flipped.
14 years ago, the crisis started in the periphery (Greece, Portugal, Spain). Now? The pressure point is France. Core Europe. That's a different animal.
French bond yields spiking. Euro weakening. ECB now facing a policy nightmare it didn't sign up for.
When the core cracks, contagion doesn't spread outward — it radiates everywhere at once. This isn't 2011. The playbook is different, and the stakes are higher.
Watch French yields. Watch the euro. This isn't noise.
14 years ago, the crisis started in the periphery (Greece, Portugal, Spain). Now? The pressure point is France. Core Europe. That's a different animal.
French bond yields spiking. Euro weakening. ECB now facing a policy nightmare it didn't sign up for.
When the core cracks, contagion doesn't spread outward — it radiates everywhere at once. This isn't 2011. The playbook is different, and the stakes are higher.
Watch French yields. Watch the euro. This isn't noise.
