The bad news keeps coming out of the EU concerning Italy . Not only is Italy in recession but Germany and France are teetering there as well. Italy’s sovereign debt crisis and its Non Performing Loan fiasco is going to blow the whole house down. I’d hate to think of all the credit default swaps out there … Hmmm could be like all those ‘bad’ MBS’s that brought the whole house down (figuratively speaking)in 2007/8. Italy’s politics is exacerbating the situation. The politicians might want all the ‘benefits’ of being in the Euro BUT if Italian debt crashes and the ECB can’t foot the bill (i.e. Germany), it’s arriva derci, sayonara and bye bye to the Euro and Italy will Italexit!