http://www.bloomberg.com/news/2012-07-13/italy-s-bond-rating-cut-by-moody-s-on-contagion-funding-risks.htmlItaly’s bond rating was cut and its negative outlook reiterated by Moody’s Investors Service as the euro area’s third-biggest economy faces higher funding costs, slower growth, and contagion risk from Greece and Spain.
Why am i not surprised?
