And The Crisis Is Now Officially Back On In Italy


Tremonti

The markets have known all week that Italy was still sick -- despite last week's good-faith attempt by the EU to stop the contagion around Greece's borders -- and now it's official.

Speaking at a press conference (via Bloomberg), Italy's finance minister Giulio Tremonti has said that the debt crisis is a "European Issue," which is in a sense old news, but in a sense a not-so-tacit admission that the problem has yet to be resolved.

This come after a weak 10-year debt auction today, which was followed up by declining markets and widening spreads across the curve.

Also speaking out now: Vittorio Grilli, Director General of the Italian Treasury who says that "nervous markets" want a faster EU rescue plan, and need a clear followup.

This all sounds very two weeks ago, which should be majorly depressing for everyone involved in the latest bailouts.

SEE ALSO: The 20 banks freaking out about Europe right now >

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