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Epicenter of the Next Debt Earthquake
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by Martin D. Weiss PhD
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Martin D. Weiss PhD reports in while visiting Milan, Italy:
"This is the financial capital of Italy; and Italy is the third-largest economy of the European Union.
Plus, it’s also the one country in the entire world with the most megabanks on the brink.
Consider this bank behind me, for example, UniCredit SpA.
We give it a Weiss Safety Rating of D, a reliable indication of a much higher-than-average probability of financial difficulties. And yet this bank has over $1 trillion in assets, making it one of the biggest in the world.
But it’s not the only one."
============================================
Martin D. Weiss PhD reports in while visiting Milan, Italy:
"This is the financial capital of Italy; and Italy is the third-largest economy of the European Union.
Plus, it’s also the one country in the entire world with the most megabanks on the brink.
Consider this bank behind me, for example, UniCredit SpA.
We give it a Weiss Safety Rating of D, a reliable indication of a much higher-than-average probability of financial difficulties. And yet this bank has over $1 trillion in assets, making it one of the biggest in the world.
But it’s not the only one."
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