So now, despite surviving a confidence in Greece's parliament, Papandreou quits, the bailout package is back on deck, the Euro is saved, and all is fine. Or is it? It would seem not quite. Now Italy seems a bit shaky, at least if the 10-year bond rate of 7.5% is any indicator. Prime Minister Silvio Berlusconi is the leader in the headlines now.
Investors looking for yield may think Italy's bonds to be a viable option. Option, yes, but viable, not so fast. Italy very well could be the next boot to fall. The Euro zone is far from solid, and anyone who doubts its impact here need but count the headlines describing our own volatile stock market in which tumult in Europe is cited.
Stateside, our own markets are volatile, as we digest the MF Global debacle and the sudden appearance of $659 Million in an account at JP Morgan, amid news that Wall Street's profits are higher under the current administration than in the 8 years of George W. Bush's. Even so, Europe's woes continue to wreak havoc, as gold again climbs to 1800.
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