This from NatWest on Italy, saying Italy is very sensitive to a slow down in the world economy
- We have long argued that the most sensitive economy in the world to global growth is Italy
- when … global growth does turn south, whenever that may be - though I have always had full faith that this will happen, given excessive debt creation - that it will spell bad news for high debt countries that require high nominal GDP to stay solvent
- … we are still fielding many client inquiries into the sustainability or not of Italian debt
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Yep. Its all a bit quiet right now (though the US stock market looks like its sounding a bit of a warning) but how far is the brown stuff from hitting the fan?
