Another Eurozone country and another threat of an imminent bailout. Italy is the third largest economy to use the euro - and there are fears it might start plunging in the same direction as Greece and Ireland.
With the euro falling, the amount of money it costs Rome to lend to debt-ridden countries is rising dramatically. Spain, Portugal and Belgium are also at risk of being pulled into the crisis.Doubts about the future of the single currency and the EU itself have been intensified by fresh protests sweeping across Europe – with people angry at facing savage cuts to pay for it all.Michael Mross, a market analyst and author, says that, finally, even Germany can become a victim of the falling euro.“Of course if the periphery falls, Germany will be the last lender, and at the end of the day it will also fall,” he said, adding “All politicians now want to save some time, what that means is that Germany will bail out every single country in Europe until it, maybe, also falls. But then Germany will gain some years to observe what is going on.”