Harrison: Europe risks 'vortex of default'

Debt-laden Greece could drag the whole eurozone into a "vortex of default, bankruptcy and an economic slump", Threadneedle's Leigh Harrison has warned.

The head of equities highlighted his contagion risk fears after warning the ECB is in denial about Greece defaulting on its debt payments.  "The powers that be really are caught between a rock and a hard place and have only their fat expense accounts to comfort them while they try to defer the day of reckoning," he said. "At present denial is the order of the day because of the fear that any admission of the truth might encourage other distressed sovereigns to follow suit. The ECB can just about afford the cost of letting Greece go, but any bigger number risks dragging the whole Europ...