The New York Times: Reports that Italian bonds have reached a point that forced Portugal, Ireland and Greece out of the Bond Markets. Thus folks we have the austerity and confidence vote in the Italian Parliament, it can be argued that the Coalition MPs wont want to be turkeys for Christmas, they will vote for confidence. The same thing happened in Greece, then the PM was out, but Italy is not Greece folks, PM Silvio Berlusconi will not want to go out under the impression that Italy is broke, and that he has been forced out by the EU. Thus expect more Italian crisis episodes, if Italy goes under it cant be bailed out, the Germans will not allow ECB to print money, Weimar Germany any one, when a loaf of bread could only be bought with a wheelbarrow of junk German currency. At some point the PIIGS will have to get out of Euro, this just might save the Euro and the EU folks, but its bet, could go either way.
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