November 29, 2011

DEATH SPIRAL? Italian Borrowing Costs Reach New Heights. “Italy paid a record euro-era yield of 7.56pc on its ten-year bonds at auction today as investors continued to question the country’s long-term solvency.”

UPDATE: Pressure builds as eurozone ponders debt solutions. “With Italy sinking rapidly into financial chaos, the eurozone’s 17 finance ministers scrambled Tuesday to find enough money to give their rescue fund a veneer of credibility and world markets some reason to believe their embattled currency won’t break up.” That’s the AP lede. . . .

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