A diary of the thought process behind my investment decisions
Monti Speaking Up
Italian Prime Minister Mario Monti spoke up today about the high interest rates that Italy has to pay. He very clearly asked for more help. This is significant in that this is the man that the ECB and Germany have backed (unofficially). He is likely the most friendly possible Italian PM to the causes of reform and austerity. Italy has done what was asked of them and is now asking for something in return. This is a step in the right direction. the first step in receiving a bailout is asking for one.