Italy Under Pressure As Bond Yields Blow Past 7%
Berlusconi wasn't the only problem, as doubts persist about ability to finance massive deficit.
Steve Schaefer, Forbes Staff Active conversation: 4 commentsBerlusconi wasn't the only problem, as doubts persist about ability to finance massive deficit.
Steve Schaefer, Forbes Staff Active conversation: 4 commentsFor more than a year, the European sovereign debt crisis was defined thusly: the world could handle the turmoil in piglets like Portugal, Ireland and Greece, but once the tumult migrated to full-grown Italy and Spain things would be at risk of going very badly, very quickly. read »
European markets are selling off sharply on the latest debt-crisis developments, but if the selling spreads to the US, traders and investors are likely to realize good buying opportunities. read »
Italy will get a new government just like Greece and stocks react quite well.
It remains to be seen if Silvio Berlusconi was a road block preventing a resolution to Italy’s debt crisis, but investors appeared to buy into that scenario sending stocks higher Tuesday afternoon on news the billionaire agreed to resign as prime minister once a new budget law is approved by parliament. read »
Italian Prime Minister Silvio Berlusconi, the seemingly untouchable media magnate who has brushed off countless scandals and challenges to his rule, appears to have made his final stand. On Tuesday, he passed a crucial budget vote, but failed to muster a majority on the measure, leading to speculation that he will be forced to resign. The situation takes global proportions as the systemically dangerous $2.6 trillion Italian bond market is quickly reaching unsustainable levels with yields on benchmark[...] read »
Global liquidity is “on the cusp” of evaporating, the head of Canada’s central bank warned in London Tuesday. read »
Greece gets a new government and Italy may do the same as earnings season rolls on.
Italian Premier Silvio Berlusconi has survived 53 confidence votes since 2008, but the possibility of his resignation grows more real by the hour as political pressure, skyrocketing bond yields, and pervasive capital flight weigh on Il Cavaliere’s political capital. read »