Greek debt issue doesn't end the broader crisis

Greece’s return to the bond markets last week might appear to mark the end of the euro-zone crisis which began when the true extent of the same country’s fiscal problems came to light in 2010. But given continued doubts about fiscal sustainability and rising political pressures across the periphery, it would be wrong to conclude that the crisis facing the region is over.

While euro-zone industrial production may have increased in February, the recovery in the industrial sector is unlikely to have gathered much momentum over Q1 as a whole. But we still think that the sector is likely to fare better in the months ahead.