In one of the most significant days on the international bond markets in living memory yields on Italian 10-year debt breached the 7% mark, the point at which Greece, Portugal and Spain had to be bailed out by the other Eurozone countries and the International Monetary Fund.
The difference this time is that Italy is a G8 country with total gross domestic product (GDP) of over $2 trillion. This is now the endgame for the Euro debt crisis as the structure of the Euro currency is tested perhaps to destruction.
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