Italy Coming To A Head

It seems the situation in Italy is coming to a head (no pun intended Mr. Berlusconi), with the Italian 10 year at 6.77%. Italy is bankrupt at these interest rates and now needs the help of the EU. It is only under these conditions that there is a chance for reform in Italy. The stakes are high as  a move to reform will likely be greeted by a big rally. While a continued game of chicken will likely be unpleasant for markets. I believe Italy will ultimately choose reform. Hopefully, soon.

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