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News Link • European Union

Double whammy: US debt downgrade and financial stability of Italy both on the table for Monday's

08-07-2011 • The Political Commentator

The US debt downgrade by S&P is a big story, but the turmoil surrounding the financial stability of Italy is potentially even bigger! The story getting the most press is of course the US debt downgrade by S&P late Friday. While this has the potential to roil the markets Monday and impact the US economy and consumer in ways we are not sure of yet, the crisis in Europe surrounding the stability of Italy along with questions concerning the participation of Germany to bail them out might be even bigger.

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Reported By Michael Haltman

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