europe debt plan

Berlusconi is Back, and So Is the Eurozone Debt Crisis

Since the beginning of the year, the markets have been behaving as if the Eurozone debt crisis has been magically solved.
Yields on Spanish and Italian debt are trading more than 1% lower than at their peak, while world stock markets have soared close to all-time highs.
Unfortunately, you can expect that all of this euphoria will fade when the Italian elections take place on February 23 and 24.
The reason is summed up in two words: Silvio Berlusconi.

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