What Italy tells us about Europe’s debt crisis

So we all know Italy is a mess. Its government debt to GDP ratio of 127% in 2010 is the third worst in the OECD (after Japan and Greece). Economic growth is practically nonexistent, with growth surpassing 2% only once since 2001. So is it any surprise that Italy has been tarred as one of the PIIGS and fallen into a debt …

Why A New Leader Won’t Save S&P

It’s tempting to read the resignation of Deven Sharma, who stepped down as president of S&P Monday night, as an admission that the rating agency goofed in downgrading the United States’ sovereign rating from AAA to AA+, even as Fitch and Moody’s maintained America’s top grade. Warren Buffett said the U.S. should be rated “quadruple A.” …

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