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InterDigital, Inc. Message Board

  • tnyellowtomcat tnyellowtomcat Jul 8, 2011 5:46 PM Flag

    Italy the next Greece

    All,

    Jllis says he is going to retire to ITALY!

    Italy????

    Jllis will have to keep his hands clean, as there is a "clean hands" policy in Italy. Beyond that, he will have a Greece type fiscal problem to look forward to.

    Good weekend all - Tomcat

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    • Tomcat, it is my understanding that of all the PIIGS, Italy poses the greatest danger to American banks because of credit default swaps. Greece is virtually nothing, but I've heard that the exposure to Italian sovereign debt is enormous.

      Just another reason to avoid American financials. I've been buying Canadian banks (TD, BMO, BNS). They were absolutely clean of the American mortgage mess -- I hope they have been similarly prudent with respect to European sovereign debt.

 
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