Italy is too big to fail

A segment on the Dutch news program Nieuwsuur prompted this post.

Earlier today, I was looking at 10-year yields and noticed Italy jumping to over 3.7%. As I write this, the yield is 3.713%. And that's up from a low of 1.633% in the past year. I believe it's the bond vigilantes that are going to force the Italian government to cave on its tete-a-tete wit…

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