BBC News: Reports that Italian 10 year bonds have reached the 7% rate, while 1 year bonds are at 8%. It can be argued that Italy has gone over the cliff, the EU/IMF/ECB cant bailout Italy, they have to bail themselves out, thus a tougher austerity package, cuts in the welfare state and the public sector, tax hikes, also a new Italian Government has to take on the Unions and the Professions. Italy is stuck in the 1970s, it needs a figure like Lady Thatcher to come in and hit heads and win for Italy. Lets see if happens folks.
Wednesday, November 09, 2011
Italy in the DEAD ZONE - Bonds 7%
BBC News: Reports that Italian 10 year bonds have reached the 7% rate, while 1 year bonds are at 8%. It can be argued that Italy has gone over the cliff, the EU/IMF/ECB cant bailout Italy, they have to bail themselves out, thus a tougher austerity package, cuts in the welfare state and the public sector, tax hikes, also a new Italian Government has to take on the Unions and the Professions. Italy is stuck in the 1970s, it needs a figure like Lady Thatcher to come in and hit heads and win for Italy. Lets see if happens folks.
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