There is a strong possibility that the EU’s leaders will soon be faced with a choice: try to save Italy (and the whole of Europe) from yet another crisis or set an example by punishing the Italian government for the country’s independent economic and foreign policies… Read More Default Or Exit: A Battle Between Italy And The EU Is Inevitable
The fact that Italy’s public debt has a lower credit rating than private debt is a reflection not of public debt’s intrinsic inferiority but of a political choice made by European leaders. And, by bolstering an authoritarian politician, that choice is now blowing back on them.… Read More Europe’s Leaders Are Aiding Italy’s Populists
While contagion is definitely contained, the Eurozone “is not sufficiently armed to face a new economic or financial crisis.” French banks are heavily exposed to Italy.… Read More “New Economic or Financial Crisis” in the Eurozone Could Start in Italy: French Government Frets
Italy’s Salvini said the Bank of Italy and the country’s stock market regulator should be “reduced to zero”, and that “fraudsters” who inflicted losses on Italian savers should “end up in prison for a long time.”… Read More Italy Vice-Premier Salvini Calls For Elimination Of Central Bank, “Prison Time For Fraudsters”
Italy’s $1.7 trillion pile of public debt – the third largest sovereign debt pool in Europe – is threatening to set off a chain reaction that could hammer banks from Rome, to Madrid, to Frankfurt – and beyond… Read More How An Italian Debt Crisis Could Take Down The EU
The banking lobby and the ECB will have a cow.… Read More Italy Guns For Glass-Steagall-Type Law to Break Up Banks, Cut Bailout Costs for Taxpayers
Well, that didn’t take long. And whatever happened to the Eurozone’s new bail-in rule?… Read More Italy’s Populist Government Eats Words, Joins Bank Bailout Club
Ashoka Mody on the arrogant delusion of the architects of the EU… Read More The Euro: A Mindless Idea
“Who will purchase the €275 billion of government debt Italy is to issue in 2019?”… Read More QE Created Dangerous Financial Dependence, Italy Hooked, Withdrawal Next, ECB Warns
Italy is in meltdown, Hungary in open revolt, and the US wants a trade war. Small wonder Europe’s leaders haven’t got much time for Brits… Read More Why Brexit Is Just a Sideshow for an EU Beset by Problems on All Sides
The French megabanks are on the hook.… Read More Why’s France so Worried about Italy’s Showdown with Brussels?
But outside Italy, credit markets are sanguine, and no one says, “whatever it takes.”… Read More Italy’s Debt Crisis Intensifies
