Italia – urmatoarea victima a crizei datoriei suverane ?

    • Steering a course through contagion

    • Italy deserves credit for the steady course it has charted through the financial sector and sovereign debt crises of the past three years.

    • Domestic banks are in stronger shape than many competitors elsewhere in Europe.

    • even these successes do not grant Italy unlimited protection against contagion from more troubled eurozone states

    • The core problem is Europe’s inability to find a comprehensive solution to Greece’s debt emergency.

    • Spain and Belgium have not truly “decoupled” from the turmoil in Ireland and Portugal, and that Italy itself is more vulnerable than it admits.

    • With public debt forecast to hit 120 per cent of gross domestic product by the end of this year, Italy can ill afford sharp increases in its government bond yields.

    • Italy’s fiscal position may deteriorate as a result of sluggish economic growth and lower than anticipated tax receipts.

    • Reforms to boost competitiveness, productivity and labour market participation rates are essential.

    • Italy has demonstrated its ability since 2008 to pass unpopular austerity measures and control public spending.

    • Household debt, at less than 45 per cent of GDP, is below the eurozone average of 82 per cent.

    • But investors should have confidence that Italy can keep the storms afflicting other parts of the eurozone from its shores.

Posted from Diigo. The rest of my favorite links are here.

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