ST Alpha - "Forget Greece, things are getting ugly in Italy" (Reading a Post)

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Forget Greece, things are getting ugly in Italy

Posted by Brian (aka trav007) Nov 4 '11, 07:47

"Italian banks were hit hard as Italian leader Silvio Berlusconi expressed his desire to continue as prime minister at the G20 summit in Cannes. Shares in Italy�s largest lender, Intesa Sanpaolo, were suspended limit down after it dropped 4.4 per cent to 1.13, while UniCredit fell more than 5 per cent to �0.79.

He also said Itlay had refused offers of financial aid from the IMF, sending yields on two-year Itlaian sovereign debt up 45 basis points to session highs of 5.66 per cent.

The prospect of Mr Berlusconi�s continued rule also sent the premium that investors demand to invest in Italian 10-year debt over the equivalent German bonds up to 460 basis points."

FT live blog (blogs.ft.com)

Responses:

my parents are traveling there right now. I hope their tripe doesn't get messed up. - loosilu Nov 4, 07:48 2
- it's gross when it's undercooked. -- nm - TFox Nov 4, 07:48 1
  - you could have stopped after the second word. -- nm - loosilu Nov 4, 07:48

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Forget Greece, things are getting ugly in Italy

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