[ScaniaBoy]

The spread between Italian and German bonds continued to widen yesterday:: 119.7 basis points on the 10 year bond.

But Italy is not the only country in the eurozone suffering. Look at Greece:

Investors shun Greek debt as shipping crisis deepens

Actually, it looks like the whole of the eurozone is playing Wiley Cyotee or Cartoon Economics. They are running in thin air, but as soon as they look down, we'll hear a big "oh, oh".

Europe on the brink of currency crisis meltdown

The markets are finally starting to figure out that the euro is a big confidence game. Either we will see the eurozone break up in the coming year, or the EU countries will have to form a centralized government with a common fiscal policy and giving the ECB powerof lender of last resort.

The French president Sarkozy is all for this, but will the Germans really give up all their policies?

[count-your-change]

Italian Bond? What’s the guy in the picture saying? Of course!

“Bondini, Giacomo Bondini. And I like my retsina neither shaken nor stirred”