Posts by tag: healthcare law

Archives November 14, 2011 posted by

New Italian, Greek governments race to limit damage

Technocrat leaders in Italy and Greece were rushing to form governments as they sought to limit the damage from the euro zone debt crisis on Monday, with stocks and the euro rising when markets opened in Asia.

Italy’s president asked former European Commissioner Mario Monti on Sunday to form a government to restore market confidence in an economy whose debt burden is too big for the euro bloc to bail out.

Investors will pass initial judgment on his leadership when Italy’s Treasury asks investors on Monday to bid for up to 3 billion euros ($4 billion) in five-year government bonds. At an auction last week, the government’s borrowing costs surged above 6 percent and kept rising to levels well beyond what the country could afford to pay over the longer term.

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