In Italy these days the risk of default has hit points than ever before - at least since the euro's -.
The Italians have concerns because the majority of citizens have invested their savings in bonds, and if it should happen as in Argentina and one morning he goes to the ATM and this gives us more of our money?
This hypothesis is remote, very remote: Italy is part of the Euro, more than 50% of foreign holders of our debt and bad accept that their money they were worth nothing.
The Italian government debt amounted to 1,900 billion euros, representing 15% of the GDP of the European Union ...
A reasonable assumption of solution would be to lengthen the maturities of the repayments of government securities and not to do the same, that is reimbursed 80 percent of face value instead.
Another would be to block loans and mortgages.
Of course most of these cases that make a withdrawal forced by Italian accounts, perhaps 10% of their value and turn it into more debt - Other Bonds 'forced' - we call them.
There are many voices that reassure us, for example, Bank of Italy said that the Italian public debt is sustainable over the next two years although interest rates on government bonds arrived at 8% and growth was zero.
Certainly, Europe and other creditors will have to help us for their own good, as well as for our ...