"Europe has lit the fuse on an economic and financial bomb," writes Ambrose Evans-Pritchard of...

|By:, SA News Editor

"Europe has lit the fuse on an economic and financial bomb," writes Ambrose Evans-Pritchard of the Spanish bailout. Next up, Italy, which (it makes you laugh until you cry) is guarantor to 22% of the bailout funds. "The situation (in Italy) could rapidly become critical," warns Citigroup, expecting it too will have to request a rescue.