MBS RECAP: Obligatory Bounce For Political Moderation in The EU

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Posted To: MBS Commentary

Back in 2011/2012, EU-related fears had more to do with certain countries being unable to pay their debt and/or general systemic risk relating to Greece being the first domino in the eventual complete collapse of the union. We got past that. Now the fear has morphed into that of various countries opting to exit the EU (as The UK already did). The focus is currently on Italy in that regard. Yesterday's developments made the risk seem as big as its been–ever, really. An Italian EU exit would be a big deal and markets treated it accordingly. Today's headlines brought a dose of moderation to the political landscape, with most of the stakeholders apparently interested in avoiding the snap elections that threaten to serve as a referendum on Italy's EU membership. To whatever extent the…(read more)

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