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Caduta di Roma?
12/07/2011
Fall of Rome?
I’ve been relatively sanguine about Italy, in a depressed sort of way: the debt level is high, but the deficits have been fairly modest, so I thought the Italians could limp along for a long time.
I may have been wrong:
Italy 10-year
This could get very interesting, in the worst sense. The chances of a real euro breakup (as opposed to one or more small peripheral economies falling off) are still small, but no longer negligible.
Update: That’s the interest rate on Italian 10-year bonds.
July 11, 2011, 8:01 am
Tratto da krugman.blogs.nytimes.com