June 17, 2010

Good News / Bad News (from Italy)

The good news for Italy, today, is that British bank Barclays is not worried about Italy’s public finances and will continue to invest in the euro zone country. Barclays chief executive John Varley told Il Sole-24 Ore newspaper,


We had strong growth in Italy in the last 10 years. We continue to consider it a strategic country in which to invest following our guidelines: in retail and wealth, and in corporate and investment banking. The high level of debt compared to GDP is not new, while the low level of household debt is particularly reassuring.


The bad news is that Gianluigi Buffon, the starting goalkeeper for world champion Italy, Wednesday was diagnosed with a herniated disk in his back and might not be able to play again in the World Cup (he will definitely not be available for Sunday’s game against New Zealand and most probably will miss the third game of the first round, against Slovakia). “Gigi has charisma. He gives strength to others.” said Italy defender Giorgio Chiellini. And it’s the plain truth.



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