daytrading nov 18 pre-market, page-14

On Italy GDP to debt ratio was higher 20 years ago. Bond yields were higher as late as the mid 90s. So what has changed? 1) lira could be devalued by running he printing press. They can't print euros. 2) 20 years ago communisims collapsed and with it the "free marke" felt vindicated and has slowly errored all the past keyesian orthodoxy in terms of stimulating demand in an economy by running deficits.
Austerity and low infalation are in the interst of accumulated capital not in the in the interest of the world economy