Saxo Bank chief economist Steen Jakobsen says the worry about contagion spreading to Spain is...

|By:, SA News Editor

Saxo Bank chief economist Steen Jakobsen says the worry about contagion spreading to Spain is misplaced. Spain - with high unemployment, hidden budget deficits, and bank funding issues - can do just fine imploding without Greece's assistance. Markets will fluctuate, but stepping back to look at the trend in Spanish bond yields shows a clearer picture.