Italy's new finance minister, Tria, gave a strong endorsement of the euro in comments over the weekend, prompting UBS to suggest that Italy's disagreements with the EU seem more likely to focus on immigration than on economics.Tria been talking with Merkel and crew. I think an indirect subsidy is in the works, something that might relieve guv financial pressure a bit. A defense subsidy would be a good place to start, hence the immigration issue.
It does not sole the real Bull in the China Shop, the nine central bankers with permanent membership in the Euro. That fix is literally a show stopper, a wall that causes slosh.
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