by goldcore
– Italy is EU’s ticking timebomb as debt nears €2.4 trillion
– Italy’s GDP is just €1.85 trillion; National debt is 132% of economy
– Italy is politically dysfunctional at best of times; Now has populist left / right wing government
– National debt owed to other EU nations alone is 25% of its GDP
– Italy’s debt threatens global GDP; May wipe 0.4% off global GDP
– Default to create contagion in EU including a euro currency crisis
– All the focus is on Brexit and trade wars but “Italy is too big to bail and too big to fail”
– “Do not have all your eggs in one basket…”
– “Don’t panic. Diversify, diversify, diversify”
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