Although some considered (or pretended to consider) the eurozone crisis to have been “solved” with the last Greek bailout/bond swap, reality “begs to differ,” says C. J. Polychroniou.  In his latest one-pager, Polychroniou provides an update on the status of “eurozone crisis 2.0” as the spotlight shifts to Spain, Portugal, and Italy:

The eurozone crisis isn’t back: it never left. It merely went into a very brief hibernation, as the world watched Europe’s leaders trying out various fixes for the wrong crisis. No matter how much cheap money the ECB provides or how high the EC “firewall” rises, Europe’s economic sickness will not be cured without massive government intervention to get the regional economy rolling again.

Read the whole thing here.