Greece has been the flavor of the week for some time now, drawing the most criticism over the European financial crisis. Spain recently made its foray into headlines after accepting a €100 million bailout from the IMF, which will presumably get worse over time. It appears that the next country to make headlines will be Italy.
Hedgeye Director of Research Daryl Jones recently penned a piece for Toronto’s Globe and Mail that focuses on Italian debt. Italy has a €255 billion repayment schedule over the rest of the year that will force it to address its problems in an accelerated fashion. Truly, the worst is yet to come.
Italy, not Spain or Greece, should be on the mind at G20 meetings [Globe and Mail]