Italy faces more scrutiny, not less, following Spain's bank bailout. Italy has over €2T of...

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bbro Comments (7847)
 
"Italy is on track to bring its budget deficit within the European Union limit of 3 percent of GDP this year and the country is already running a surplus before interest payments, meaning its debt will soon peak at about 120 percent of GDP. The jobless rate is less than half of Spain’s 24 percent, and Italy didn’t suffer a real estate bust, leaving its banks healthy by southern European standards. The budget deficit at 3.9 percent of GDP last year, is less than half that of Spain."

Would love to know what debt service to Government revenues is...
never seems to be included in the analysis....
11 Jun 2012, 02:45 AM Reply Like

Aristiphones Comments (1266)
 
nor will it be.
11 Jun 2012, 01:47 PM Reply Like

headrock Comments (13)
 
"also has a relatively healthy banking system" and "is on track to rein in its budget deficit" literally made me laugh out loud.
11 Jun 2012, 02:48 AM Reply Like

David Urban Comments (1034)
 
Unicredit's Austrian and German subs got downgraded last week.

Uh......
11 Jun 2012, 03:00 AM Reply Like

Aristiphones Comments (1266)
 
"the Forecast Calls for SPain" and indeed it did. Total meltdown. Forget mere Italy. You do not want to hold single instrument denominated in euros. Germany comes to mind.
11 Jun 2012, 01:57 PM Reply Like