I am afraid that Italy is both too big to fail but also too big to be saved. You mean the French and German banks and pension funds are too big to be saved? Th

I am afraid that Italy is both too big to fail but also too big to be saved. You mean the French and German banks and pension funds are too big to be saved? The Italian banks will be insolvent as soon as anything substantial happens, as was shown 3 years ago. The only reason to 'bail them out' would be to bail out forign banks, as was the case in Greece. Having the perma-surplus countries of Europe enforce austerity and permanent contractionary policies on sovereign countries that share a currency (The Fiscal Compact) is an impossible combination, which we also know because we've tried it many times before.