Italy on Wednesday became the first major economy to require an international bail-out as its debts hit “totally unsustainable levels”.
The country’s escalating crisis prompted questions about whether European leaders had sufficient will or financial firepower to rescue it.
The interest rate at which the Italian government borrows on the international bond markets hit seven per cent ”“ the point at which the smaller eurozone economies of Ireland, Portugal and Greece had to be rescued.
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Debt crisis: while Rome burns, the Eurozone fiddles
Italy on Wednesday became the first major economy to require an international bail-out as its debts hit “totally unsustainable levels”.
The country’s escalating crisis prompted questions about whether European leaders had sufficient will or financial firepower to rescue it.
The interest rate at which the Italian government borrows on the international bond markets hit seven per cent ”“ the point at which the smaller eurozone economies of Ireland, Portugal and Greece had to be rescued.
Read it all.