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| clothes moment will come when italy fails to roll-over it's bonds (maybe early next year - though i'm a little surprised they've scraped through so far). even germany's recent bond sale was a bit shakey. | |
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Yes, or anytime during 2012. Italy has €320 billion to roll over next year. Thats a hell of an amount. Thats also just Italy, then there is the rest of the Eurozone as well as all the other countries who are financing deficits with debt. For Italy, all of that will be at pretty much at higher interest rates than what they have had in the past - so their average rates will just be getting higher in the near term chewing up more revenue in interest payments.
Glad im not an Italian taxpayer