Minor Former Greek Colony Also Has Some Finance “Issues”

The olive doesn’t fall far from the tree

Italy’s economic problems took center stage Monday as its government, led by increasingly threatened Prime Minister Silvio Berlusconi, faced yet another key vote.

The health of the euro zone’s third-largest economy has come into focus despite Berlusconi accepting IMF monitoring and surviving several confidence votes in recent months.

Italy’s size makes the potential consequences if it were to fail more wide-ranging than the much smaller Greece.

“Italy has much more systemic implications,” Thanos Vamvakidis, Head of European G10 FX Strategy, BofA Merrill Lynch Global Research, told CNBC Monday.

“It’s too big to fail, too big to save.”

3 Responses to “Minor Former Greek Colony Also Has Some Finance “Issues””

  1. Syd B. says:

    Prime Minister Silvio Berlusconi is to Italy as a hemorrhoid is to a mountain bike race. Hard to ignore, of no apparent purpose and a real pain in the ass.

  2. JeffS says:

    Sounds about time for another round of Italian based sordid sex stories, in the “Look, bunnies!!!!!” context.

  3. Yojimbo says:

    Too big to fail an too big to save. I’m glad there’s so much potential for amelioration here. I’m sure Obama and Geithner will knock out a solution by breakfast. I feel better already!

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