From Berlusconi to Draghi
Greece may be the fuse, but is Italy the bomb that will blow up Europe? While a political crisis is likely to erupt in the near term, it is impossible to predict whether Italy faces an interim government until 2013 or snap elections in early 2012 – or, more importantly, how the next government will deal with Mario Draghi, the European Central Bank's new president.
https://prosyn.org/FTyAFDs
ROME – Greece may be the fuse, but is Italy the bomb that will blow up the euro and perhaps the entire European Union? In the weeks since Standard & Poor’s and Moody’s downgraded Italian sovereign debt, and gave it a “negative” outlook, the country has been targeted repeatedly by financial speculators. But the country’s economic and financial fundamentals aren’t so bad; it is the country’s political disarray that is spooking investors and roiling markets.