Friday, November 18, 2011

Martin Wolf on Italy

A characteristically clear and articulate analysis from the FT's Martin Wolf: Europe must not allow Rome to burn. Wolf argues that Italy can survive the crisis, but only with strong support from outside, and that means Germany authorizing the ECB to backstop Italian debt.

Given Guido Westerwelle's obtuse offerings in the same newspaper yesterday, the chances of this happening don't look good.