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ROUBINI: There's Only One Option Left For Italy


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ROUBINI: There's Only One Option Left For Italy

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 kbit 
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[COLOR=#1d637d]Nouriel RoubiniIn a series of cynical tweets, argues that everyone's worst case scenario for Italy is inevitable.
He avows that, because the [COLOR=#1d637d]European Central Bank[/COLOR] is legally prevented from being the lender of last resort by the EU treaties, a plan to leverage the European rescue fund—the European Financial Stability Facility—using a special purpose investment vehicle (SPV) "will not fly."
So the only option for Italy is debt restructuring.
Meanwhile, [COLOR=#1d637d]yields on Italian bonds are skyrocketing[/COLOR]. Read his [COLOR=#1d637d]tweets[/COLOR]:


Image: [COLOR=#1d637d]@Nouriel on Twitter[/COLOR]


Read more: ROUBINI: There's Only One Option Left For Italy[/COLOR]

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Last Updated on November 9, 2011


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