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Why the latest eurozone bail-out is destined to fail within weeks

Why the latest eurozone bail-out is destined to fail within weeks. Fiddling while Rome burns: “the Italian government on Friday paid 6.06pc for 10-year money, up from just 5.86pc a month ago and a euro-era high. Such borrowing costs are disastrous, given that Rome must roll-over €300bn of its €1,900bn debt in 2012 alone. A default by Italy, the eurozone’s 3rd biggest economy, and the 8th largest on earth, would make Lehman look like a picnic.”

This post was last modified on January 26, 2021

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Bonfire of the Absurdities: After 35 year career writing software for IBM mainframes, am now self-employed contractor thinking of joining a union and striking for higher wages. Cured morbid fear of heights when I learned to look at them as lengths standing on end. Uncompromising in refusal to accept browser cookies. Amateur investor who has accumulated a small fortune in the market after starting out years ago with a large one. For recreation, I run, hike, kayak and play tennis but will not consider synchronized swimming under any circumstances.

View Comments (2)

sa_rose says:

October 30, 2011 at 10:30 pm

Karina needs to read this
Navyvet says:

October 30, 2011 at 3:45 pm

Failure is a no brainer. Italy will soon be tits up. Same with Greece. Their creditors agreed to 50%, ha they ain't gonna get it. With in 3 months Greece will be saying how about 50% of the 50%.