>
>     On Tue, Mar 11, 2008 at 7:52 AM, Dave Vealey wrote:
>
>     1 yr bill auction in Italy looks to have failed to get enough bids for
>     paper. Avg yield was 3.80% and high yield was 4.50%….
>
>     DV
>

Not good! This is where the real systemic risk lies, as previously discussed.

2 Responses

  1. the eurozone nations are akin to US states, and can be forced into default, like the US states, and unlike the US govt.

    and, unlike the US, the ecb and euro parl. is prohibited from bailing out the national govts.

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