That euro area 'policy' for dealing with the crisis is working marvelously, yeah?
Source: Euromoney Country Risk
Note: lower ECR score = higher sovereign credit risk
Yes, Italy's bonds are trading at much lower yields, and the country
is issuing new debt at lower costs... but how much of that has to do with something / anything that Italian Government has done, as opposed to the overall shifts in markets sentiment / liquidity flows, who knows? One thing is for sure, absent yields changes, Italian fundamentals are getting worse, not better. Ditto, between, for
all other 'peripherals'.
