Italy turmoil raises questions about ECB backstop

Italy turmoil raises questions about ECB backstop

Written by Simon Tilford, 27 February 2013

"Basically investors are taking this on faith," said Simon Tilford of the CER. ..."It would be very hard for the ECB to wade into the market and buy substantial quantities of Italian debt if there is political gridlock in Italy and a broad based rebellion against the austerity strategy," Tilford warns.

Link to press quote:
http://www.google.com/hostednews/ap/article/ALeqM5jxAraZc3ncMVQ8u5XwlrnGEOiK8A?docId=dae754efd9674bd3b9832df1632b506f