Thursday, November 10, 2011
Italy: Definitely too big to fail, maybe too big to bail
Douglas J. Elliott, who worked as an investment banker for two decades, is a fellow at the Brookings Institution.
We may be nearing the finale of the Euro crisis that has been building for at least a year and a half.
What Italy does now, and how governments and markets respond, may determine whether we have been watching a tragedy or something less serious.
Whatever it is, it definitely has elements of both.
Italy is the domino that cannot be allowed to fall over, because it would risk knocking over too much else. Read more....