It is a place of great significance both historically and in the hearts of many. In the etched in stone words used back in October 28 1929, "Things are different, it is a global economy"
Rome Is On The Verge Of Detroit-Style Bankruptcy
With European peripheral bond yields collapsing every single day to new all time lows (primarily driven by Europe's near-certainty that a US-style QE is imminent as we first showed here in November, despite Mario Draghi's own words from November 2011 that a QE intervention is virtually impossible), increasingly more of Europe is trading just as safe, if not more, as the United States. And in keeping with the analogies, considering a major US metropolitan center, Detroit, recently went bankrupt, it is only fair that Europe should sacrifice one of its own historic cities to the gods of negative cash flows. The city in ... (full story)