Italy is the second Greece

2011-11-10 14:10:03

While political forces in Greece gather their forces to come up with an austerity plan for the country, Italy seems to face similar debt problems and
will offer up to 5 billion euros of short-term Treasury bills, maturing November 2012 in a key test to Rome's ability to fund itself. The main difference
between Greece and Italy is the size of the debt. In the first case it was still possible to come with a certain fund to save the country from the default,
in the latter case, the size of the loans are significantly higher and refunding such debt is not possible under given circumstances. French and
German officials have already started considering an option of splitting Euro Zone, says Reuters