Greek Night - Eurozone Crisis

Telegraph Live: Reports that Italy is heading for its bonds costing 7% over ten years, in other words over the cliff. In many respects folks Greece is a sideshow, if Italy goes under its all over for the Euro and the EU. The contagion of Greece has already happened folks, from reports over the day it seems that the Italian PM Silvio Berlusconi has turned down a loan from the IMF, but granted them access to the books, sorry folks, this blog simply does not buy that Italy will ever give the IMF its real books, cooked books yes, but the real dire economic books of Italy, give this blog a break, Italy can not be allowed to fail, they have the EU/IMF/ECB by the balls, they yank and the troika has to give money to Italy. The Godfather would be pleased. Alright this blog has seen the Godfather films and series to many times but as its most basic is the fact that the EU can not bailout out Italy, thus the Italian Government can yank the chain of the Troika without much blowback, the question is who is going to pay for Greece and who gets the horses head!! Or as the Godfather himself said, “ Every time I think I am out, they pull me back in again !”.