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People stop and look at stock market indices on a monitor outside a bank in Milan, Italy, Monday, Nov. 14, 2011.
People stop and look at stock market indices on a monitor outside a bank in Milan, Italy, Monday, Nov. 14, 2011.
(Antonio Calanni/AP)

BREAKINGVIEWS

Market is ignoring the Italian elephant in the room

Reuters Breakingviews delivers agenda-setting financial insight. Its global correspondents react to stories as they develop, delivering sharp and provocative commentary on big financial news as it breaks.

Italian bond spreads have risen nearly one percentage point since Italy’s election. It could have been worse – and considering the risks, it should.