Thursday, November 10, 2011

European Policy Makers Out of Their Depth

European Policy Makers Don't Understand, But Markets Do 
By Rebecca Wilder
So here we are: the Italian yield curve is flat at above 7%; the government institution is in question; and the ECB is using its SMP purchase program as a carrot to drive austerity implementation in and Berlusconi out. Some would argue that the ‘market is irrational’ – Italy faces a liquidity not solvency crisis. That’s the IMF’s line, and I don’t buy it... READ MORE

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