Sovereign Debt Attack. Is Italy Next?
The attention of international capital markets is likely to turn to Italy now that Spain has gotten a $125 billion reprieve for its economy and troubled banks. Although Greece remains a concern, Italy is Europe third largest economy, ahead of…
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The attention of international capital markets is likely to turn to Italy now that Spain has gotten a $125 billion reprieve for its economy and troubled banks. Although Greece remains a concern, Italy is Europe third largest economy, ahead of Spain. Bond vigilantes have to find some pool of sovereign paper if they want to keep up their methods for making profits.
Bloomberg reports that
Italy has more than 2 trillion euros of debt, more as a share of its economy than any advanced economy after Greece and Japan.
The perception may be unfair. Italy’s economy is much more diverse than that of Spain, Portugal, and Greece. Italy has both a robust manufacturing sector and continues to be one of the region’s export powers.
Douglas A. McIntyre
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.