Italian President Giorgio Napolitano Is Trying To Avert A Crisis Of Systemic Proportions

With the Cypriot banking crisis apparently resolved, global markets seem to have forgotten the European sovereign debt crisis is far from over. Italy, the Eurozone?s third largest economy, remains in a state of relative ungovernability, with center-left politician Pier Luigi Bersani, the narrow of victor in elections held five weeks ago, unable to form a government. While sovereign bond yields have retreated after the Cypriot scare, they could spike dramatically if Italian President Giorgio Napo...