Advertisement
Help Keep Boards Alive. Support us by going ad free today. See here: https://subscriptions.boards.ie/.
https://www.boards.ie/group/1878-subscribers-forum

Private Group for paid up members of Boards.ie. Join the club.
Hi all, please see this major site announcement: https://www.boards.ie/discussion/2058427594/boards-ie-2026

Italy On The Edge Of Bailout

  • 09-11-2011 12:03PM
    #1
    SafeSurfer
    Registered Users, Registered Users 2 Posts: 8,182 ✭✭✭SafeSurfer


    Italian 10 year bond yields have surged well past the 7% level.

    Is an Italian bailout only a matter of time? Euro has slipped 1.25% already today.

    If Italy goes that leaves only Spain, of the original PIIGS without a bailout. Their bond yields are also on an upward trajectory.

    Its the end of the Euro as we know it.

    Multo autem ad rem magis pertinet quallis tibi vide aris quam allis



«134

Comments

  • #2
    Snakeblood
    Registered Users, Registered Users 2 Posts: 4,461 ✭✭✭Snakeblood


    SafeSurfer wrote: »
    Italian 10 year bond yields have surged well past the 7% level.

    Is an Italian bailout only a matter of time? Euro has slipped 1.25% already today.

    If Italy goes that leaves only Spain, of the original PIIGS without a bailout. Their bons yields are also on an upward trajectory.

    Its the end of the Euro as we know it.

    There's no bailout for Italy, I don't think. Their national debt is too big. Berlusconi has to go and go now, the markets might have a little more faith with a national unity government and him gone. They just need to see that things will happen.


  • #3
    mikemac
    Closed Accounts Posts: 19,967 ✭✭✭✭mikemac


    Italy have the third largest gold reserve in the world, behind only the USA and Germany

    Italy have options
    A quick google shows me a value of $147 billion

    Wouldn't Ireland love to have that


  • #4
    SEPT 23 1989
    Registered Users, Registered Users 2 Posts: 43,038 ✭✭✭✭SEPT 23 1989


    France is the end game


  • #5
    Mark200
    Registered Users, Registered Users 2 Posts: 3,536 ✭✭✭Mark200


    Italy are the third largest Euro economy and they are guaranteeing 20% of Greece's bailout. I really don't see how a bailout is an option for them. Getting a new and stable Government in place as soon as possible will help.


  • #6
    SeaFields
    Registered Users, Registered Users 2 Posts: 6,551 ✭✭✭SeaFields


    It'll be interesting to see Merkel and Sarkozy tell Burlusconi what to do. Considering he is such a "character" that is.


  • Advertisement
  • #7
    Mark200
    Registered Users, Registered Users 2 Posts: 3,536 ✭✭✭Mark200


    According to the Metro, Italy has debts of €2trillion


  • #8
    Captain Darling
    Closed Accounts Posts: 8,542 ✭✭✭Captain Darling


    mikemac wrote: »
    Italy have the third largest gold reserve in the world, behind only the USA and Germany

    Italy have options
    A quick google shows me a value of $147 billion

    Wouldn't Ireland love to have that

    The Vatican can surely give them a bail out as well??


  • #9
    Crazy Horse 6
    Closed Accounts Posts: 2,474 ✭✭✭Crazy Horse 6


    Mark200 wrote: »
    Italy are the third largest Euro economy and they are guaranteeing 20% of Greece's bailout. I really don't see how a bailout is an option for them. Getting a new and stable Government in place as soon as possible will help.
    No it won't tbh. The debt is the problem not berlo.


  • #10
    admiralofthefleet
    Closed Accounts Posts: 15,515 ✭✭✭✭admiralofthefleet


    Captain Darling wrote: »
    The Vatican can surely give them a bail out as well??

    the vatican could bail out every country in trouble with their billions in cash and nazi gold


  • #11
    Cookie_Monster
    Registered Users, Registered Users 2, Paid Member Posts: 24,755 ✭✭✭✭Cookie_Monster


    Italy have been on the edge of a bailout since ww2, nothing new here


  • Advertisement
  • #12
    giant_midget
    Closed Accounts Posts: 1,162 ✭✭✭giant_midget


    Their 10yr yields have already hit 7.4%

    http://www.bloomberg.com/quote/GBTPGR10:IND


  • #13
    Dyr
    Registered Users, Registered Users 2 Posts: 23,246 ✭✭✭✭Dyr


    The merkel markets need a puppet govt installed in Italy ASAP! Viva la EUreich!!


  • #14
    foxyboxer
    Closed Accounts Posts: 3,528 ✭✭✭foxyboxer


    Mark200 wrote: »
    According to the Metro, Italy has debts of €2trillion

    Mamma Mia! That's a spicy Meataball!


  • #15
    mike65
    Closed Accounts Posts: 88,968 ✭✭✭✭mike65


    admiralofthefleet wrote: »
    the vatican could bail out every country in trouble with their billions in cash and nazi gold

    Only if that were true.

    Hard to know what happens now, getting Silvio out pronto and the budget passed would help but the ECB could only prop up Italy and Spain for about 18 months its reckoned. This is now a truly global matter and needs to be dealt with in that context and that means China will have to get involved.


  • #16
    HellFireClub
    Closed Accounts Posts: 3,911 ✭✭✭HellFireClub


    Snakeblood wrote: »
    There's no bailout for Italy, I don't think. Their national debt is too big. Berlusconi has to go and go now, the markets might have a little more faith with a national unity government and him gone. They just need to see that things will happen.

    Just like our own spectacular downfall, one man's ego and rediculous belief in his own abilities, has worsened the crisis.


  • #17
    Latchy
    Closed Accounts Posts: 21,190 ✭✭✭✭Latchy


    Like the plumber who stops one leak in the pipe only to find another spouts out ,then another...it has to end somewhere . I like the idea of the Mafia Vatican opening it's coffers and bailing them out ...be very christian thing to do .:pac:


  • #18
    sock puppet
    Registered Users, Registered Users 2 Posts: 4,586 ✭✭✭sock puppet


    Latchy wrote: »
    Like the plumber who stops one leak in the pipe only to find another spouts out ,then another...it has to end somewhere .

    I really don't think calling in Mario is going to do Italy any good.


  • #19
    Captain Darling
    Closed Accounts Posts: 8,542 ✭✭✭Captain Darling


    foxyboxer wrote: »
    Mamma Mia! That's a spicy Meataball!

    PASTA SOLO!


  • #20
    wobbles-grogan
    Registered Users, Registered Users 2 Posts: 558 ✭✭✭wobbles-grogan


    HellFireClub wrote: »
    Just like our own spectacular downfall, one man's ego and rediculous belief in his own abilities, has worsened the crisis.

    Nah, the crisis has worsened the crisis.

    Berlusconi was/is a scapegoat. Just like the leaders in some of the other bailed out countries. Cowen, Popendreau, now berlusconi.

    The problem here is the markets (that thing which we all are part of and no one is part of all at the same time) have too much power. End of. They can single handedly bring down a democratically elected government, in any country they wish.

    How do we fix that? i dunno


  • #21
    Snakeblood
    Registered Users, Registered Users 2 Posts: 4,461 ✭✭✭Snakeblood


    sock puppet wrote: »
    I really don't think calling in Mario is going to do Italy any good.

    That man knows where the gold coins are.


  • Advertisement
  • #22
    NinjaK
    Banned (with Prison Access) Posts: 963 ✭✭✭NinjaK


    Good, the sooner the Euro dies the better.


  • #23
    Latchy
    Closed Accounts Posts: 21,190 ✭✭✭✭Latchy


    sock puppet wrote: »
    I really don't think calling in Mario is going to do Italy any good.
    No ...the dutch are much better at plugging holes .


  • #24
    Captain Darling
    Closed Accounts Posts: 8,542 ✭✭✭Captain Darling


    Latchy wrote: »
    No ...the dutch are much better at plugging holes .

    And sticking their fingers into dykes.


  • #25
    Latchy
    Closed Accounts Posts: 21,190 ✭✭✭✭Latchy


    Captain Darling wrote: »
    And sticking their fingers into dykes.
    At both ends ...


  • #26
    HellFireClub
    Closed Accounts Posts: 3,911 ✭✭✭HellFireClub


    wobbles-grogan wrote: »
    Nah, the crisis has worsened the crisis.

    Berlusconi was/is a scapegoat. Just like the leaders in some of the other bailed out countries. Cowen, Popendreau, now berlusconi.

    The problem here is the markets (that thing which we all are part of and no one is part of all at the same time) have too much power. End of. They can single handedly bring down a democratically elected government, in any country they wish.

    How do we fix that? i dunno

    Only where the state in question has completely lost the run of themselves and has proceeded to p*ss their tax payers money all over the place, as has happened here and also in Greece. At the end of the day, you don't lend money to someone who is going to be reckless with it.

    You only need to look at Berlisconi to see the problem, an arséhole who has been too busy attending bunga bunga parties than to be running the country properly.


  • #27
    ejmaztec
    Registered Users, Registered Users 2 Posts: 24,369 ✭✭✭✭ejmaztec


    The Mafia will solve Italy's financial problems with a few hundred pairs of concrete wellies and a one-way Mediterranean cruise.


  • #28
    Angron
    Moderators, Computer Games Moderators, Music Moderators, Regional Midlands Moderators, Paid Member Posts: 24,167 Mod ✭✭✭✭Angron


    SeaFields wrote: »
    It'll be interesting to see Merkel and Sarkozy tell Burlusconi what to do.
    I imagine he'd go out of his way to do the opposite.


  • #29
    Orando Broom
    Registered Users, Registered Users 2 Posts: 3,351 ✭✭✭Orando Broom


    Latchy wrote: »
    Like the plumber who stops one leak in the pipe only to find another spouts out ,then another...it has to end somewhere . I like the idea of the Mafia Vatican opening it's coffers and bailing them out ...be very christian thing to do .:pac:

    If the said plumber spent less time fighting with mushrooms over some broad who was and is waaaaay out of his league the problems might not be so acute.


  • #30
    Gloria Damaged Axe
    Posts: 81,308 CMod ✭✭✭✭ Gloria Damaged Axe


    Berlusconi has already said he's stepping down after they pass some austerity bill, it's the tradeoff he gets for making the govt pass it
    http://www.irishtimes.com/newspaper/breaking/2011/1109/breaking1.html

    doesn't seem to have helped though


  • Advertisement
  • #31
    Scanlas The 2nd
    Banned (with Prison Access) Posts: 3,144 ✭✭✭Scanlas The 2nd


    wobbles-grogan wrote: »
    Nah, the crisis has worsened the crisis.

    Berlusconi was/is a scapegoat. Just like the leaders in some of the other bailed out countries. Cowen, Popendreau, now berlusconi.

    The problem here is the markets (that thing which we all are part of and no one is part of all at the same time) have too much power. End of. They can single handedly bring down a democratically elected government, in any country they wish.

    How do we fix that? i dunno

    The problem is not the markets, the markets give countries much needed credit. The problem is the bad running of countries finances and letting debt get out of hand.


Advertisement
Advertisement