Politics puts Italy, Spain back in market focus

Comments (1)
CVAR wrote:

Reuters seems always quick to highlight Italy supposed troubles at any minor news breeze, while consistently forgetting a deeper analysis of Italy strengths, like the lowest private debt of all major economies.

Coupled with an extremely solid banking sector, one the highest individual wealth, and a savings culture that indebted Americans and British cannot even comprehend, your articles just look like functional to the rating agencies and Wall St. interests. Rating agencies have been under investigation in Italy and the outcome is as expected. Their downgrades of very profitable, provincial banks that have their assets based on average individual wealth excluding properties of 100,000+ EUR including children and elderlies is just hilarious. But of course the same agencies rate RBS and other British and American banks that lost billions in dubious financial activities much higher, despite their assets being based on populations addicted to debt. Most Americans do not realize that there is no concept of credit scoring in Italy, because vast majority of people doesn’t need credit for anything, and therefore are not slave to credit consumerism and the attached marketing like the poor Americans.

Shame to Reuters.

Oct 30, 2012 3:29am EDT  --  Report as abuse
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.