Is the World Economy About to Implode?
Ireland & Greece are relatively minor economies; however, Italy is not a minor economy. Bailing Italy out is going to cause major havoc. Is the World economy on the verge of something big?
I dont think there will be any really serious repercussions, even if Italy goes "belly up".
Dont forget the truly dreadful state that the world was in 1945, with major ecomomies like Japan and Germany in ruins. The world recovered quite well then, when the situation was much worse.
Dont worry. With a little international cooperation, and some sensible policies, everything will be fine in a few years.
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