Charlie Bottle

Will Italy Be the First to Pull Out of the Euro?

Dany, congratulations. Do you know how much sovereign debt Italy has?....About 2.5 trillion US$. That's 30X those goldreserves you mention. This s the "on balance" sheet liabilities. Euro governments have been creative in moving liabiltes "off balance sheet" so this is just a fraction of total libilities. Italy is broke and will likelly have to restructure debt...My guess in less than 3 years.