Italy: Too Big to Fail, Too Big to Save?

Prophecy Sign: The collapse of world markets and the global economy


So the Greek crisis may be over for now as the Greeks have come up with a coalition government and will likely vote "Yay" on the newest bailout package. However the focus now swings towards the third largest economy in the European Union and one that is nearly in bad as shape as the Greeks are; That being Italy. As one economist notes, "Italyis too big to fail and too big to save"

As we have repeatedly said; The global economic nightmare called the sovereign debt crisis simply will not go away as you can't solve a debt problem with more debt. The collapse will inevitably happen, and when it does it will result in a brand new financial world order unlike anything the world has ever before seen.

!0 future Kingdoms, (whether 10 European nations or 10 Global economic zones), will work alongside a future world leader, (the Antichrist), to establish this new financial world order.
The ten horns you saw are ten kings who have not yet received a kingdom, but who for one hour will receive authority as kings along with the beast.  They have one purpose and will give their power and authority to the beast. Revelation 17:12-13 NIV

From the articles:

Italy's economic problems took center stage Monday as its government, led by increasingly threatened Prime Minister Silvio Berlusconi, faced yet another key vote. 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." The problems facing Italy include the euro zone's second-highest debt-to-GDP ratio, and the lack of a credible alternative to Berlusconi's government.

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The Italian government's borrowing cost has risen as fears grow over political uncertainty in Rome. The yield on Italian 10-year bonds rose from 6.37% to a euro-era high of 6.64%, before retreating to 6.5%. It is feared that Italy, the eurozone's third biggest economy, could become the next victim of the debt crisis. PM Silvio Berlusconi faces a crunch vote on public finance on Tuesday.

The markets are viewing Italy's ability to repay its debt as increasingly doubtful. The spread between Italian and German 10-year government bond yields had widened to 488 basis points in early trading, its widest level since 1995.

 

Italy: Too Big to Fail, Too Big to Save?

http://www.cnbc.com/id/45187059

Italy government borrowing rates hit euro-era high

http://www.bbc.co.uk/news/business-15617132

Economists Warn Eurozone Days May be Numbered

http://www.cbn.com/cbnnews/finance/2011/November/Greece-Talks-Under-Way-in-Bid-to-Avoid-Bankruptcy-/