Telegraph Live: Reports that the Bond Markets see Italy being close to edge with having to pay 6.06% on its bonds, the live updates states the following on Italy “ if it has to pay 6pc interest on its loans, the Italian government will be in deep water. ”. The political sums are not hard to do folks, you have a weak PM, who has political and legal problems, the Coalition Government can not agree on structural reform, the welfare state of Italy needs reform, but due the above its not going to happen soon, the Trade Unions are using the argument of class warfare, why should their members suffer when the rich seem to get richer and the banks get a constant bailout. Thus any agreements for reform given by the Italian Government to the EU is not worth the paper its written on, a new government will be needed in Rome, thus Italy has taken over from Greece as the cancer of the Euro and the EU.
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