Economist warns of contagion in the eurozone

In the last week, worries over Ireland have contributed to a sell-off that wiped $2tn off global stock markets. Although a bailout has not been announced for Ireland, there are definite signs of relief on the markets.

But even with investors trading positively on the news of talks from Ireland - now investors are concerned that debts in countries like Portugal and Spain are just too big for them to refinance, never mind pay back.

Megan Greene from the Economist Intelligence Unit told the BBC a bailout for Ireland will only trigger the next phase of the eurozone debt crisis.