EU President Calls Emergency Meeting On Italy


Joe Weisenthal
Business Insider
July 10, 2011

Yep, Italy is suddenly a crisis country.

EU President Herman van Rompuy has called an emergency meeting for Monday to discuss the Italian contagion, according to Reuters.

A combination of economic and political factors has seen a sharp selloff in stocks, and a surge in yields.

The country is also getting caught up in a continent-wide game of chicken, that started, really, when French banks broached the idea of haircuts for Greek debt holders.

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