Ambrose Evans-Pritchard: The biggest bankruptcy in history cannot be allowed to run its course
Published 09/11/2011 | 12:23
AS we watch Italy's 10-year bond yields smash through 7.3pc and threaten to detonate the explosive charge on €1.9 trillion of debt, it is time for the world to reimpose order.
You cannot allow the biggest bankruptcy in history to run its course – with calamitous domino implications – before all options have been exhausted.
One can only guess what is happening in the great global centres of power, but it would not surprise me if US President Barack Obama and China's Hu Jintao start to intervene very soon, in unison and with massive diplomatic force.