I believe ECB can save the whole Euro Zone. It is a matter of time only.
ECB could bail out Italy in a jiffy
The European Central Bank could ease the debt pressure on Italy in five minutes. Many investors would welcome that. But the ECB may consider that not “saving” Italy has done a lot of good. Just how easily the ECB might bail out Italy is shown by Britain. Why is British government debt not nearing 7-per-cent yields, like Italy’s, but trading at absurdly low 2.2-per-cent levels? The main reason is that Britain has a lender of last resort, which is willing to print its own currency. Italy doesn’t – not yet, at least. Britain’s ultimate lender has certainly been active. The Bank of England aims to print a ... (full story)