Don’t panic – here’s how to handle Europe’s latest big summit

The unpredictability of the European debt crisis is making life very tough for investors. No one knows what the eventual outcome will be and how markets will react. So what should you do? John Stepek explains.

Investors seem to have finally learned something from the European crisis: "Expect nothing good".

It now costs Spain more to borrow money over three months than it costs Germany to borrow over 30 yes, 30 years. Spain sold just over €3bn of debt at auction at a 2.36% yield yesterday, up from 0.846% just a month ago.

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John Stepek

John Stepek is a senior reporter at Bloomberg News and a former editor of MoneyWeek magazine. He graduated from Strathclyde University with a degree in psychology in 1996 and has always been fascinated by the gap between the way the market works in theory and the way it works in practice, and by how our deep-rooted instincts work against our best interests as investors.

He started out in journalism by writing articles about the specific business challenges facing family firms. In 2003, he took a job on the finance desk of Teletext, where he spent two years covering the markets and breaking financial news.

His work has been published in Families in Business, Shares magazine, Spear's Magazine, The Sunday Times, and The Spectator among others. He has also appeared as an expert commentator on BBC Radio 4's Today programme, BBC Radio Scotland, Newsnight, Daily Politics and Bloomberg. His first book, on contrarian investing, The Sceptical Investor, was released in March 2019. You can follow John on Twitter at @john_stepek.