Moody’s Puts Italy Debt On Review For Downgrade


^^^ Haven’t gone through Bank For International Settlements (BIS) data yet as part of my fundamental risk analysis to determine how “interconnected” debt is among Eurozone nations.

That was the “systemic risk” concern during the Eurozone debt crisis back in 2011 because of how much “interconnectedness” there was among debt of Eurozone nations. At that time there was so much “interconnectedness” of debt among multiple Eurozone nations all it would have taken is one domino to fall and multiple other dominoes (Eurozone nations) would have began falling too. The approx. 20% correction of the SPX in 2011 would have been much worse had Drahi not taken the actions he did because of how “interconnected” debt was among Eurozone nations.