Which Will Be the First to Blow: the Private Sector or the Public Sector?
As a result of the European Central Bank’s credit squeeze, nine out of ten economists polled by the Financial Times on Jan. 6 forecast a sovereign debt crisis of Italy in the near future. This is the easiest forecast to make, given Italy’s €2.5 trillion debt, amounting to 155% of its GDP, combined with the impact of both the interest […]
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