Greece Has Been Scary Enough, Now There's Italy

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When it comes to the troubled economies of the Eurozone, "contagion" is what economists, bankers, traders and political leaders fear most. Now the focus has shifted from Greece to Italy. Greece now has a unity government led by a banking technocrat pledged to avoid bankruptcy, however unpopular austerity measures might be. Italy has an economy almost triple the size of Greece, Portugal and Ireland combined, with a massive debt it might not be able to pay. Its shaky economy is the creature of Prime Minister Berlusconi, one of the world's most colorful leaders. Will he really get out of the way? We get a taste of Italian politics today and hear what a national bankruptcy would mean for world markets and American banks.

Credits

Guests:
Rachel Donadio - reporter at The Atlantic covering politics and culture across Europe - @racheldonadio, Beppe Severgnini - Corriere della Sera - @beppesevergnini, Daniel Gros - Centre for European Policy Studies, Greg Ip - Economist magaqzine - @greg_ip

Host:
Warren Olney

Producers:
Sonya Geis, Caitlin Shamberg, Katie Cooper