Posted inFrance, Germany, Italy, World

Risk lies to the South, not the West

French sovereign risk has evaporated as the danger of an anti-EU populist government recedes. Italy, maybe not so much. Although the spread between Italian 10-year government debt and German 10-year Bunds has narrowed from its recent wides, Italy still pays about 2% more than Germany for 10-year money. Italy’s political system is in permanent crisis […]

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