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From Vaporstory
Italy has moved to centre stage in the eurozone debt crisis.
While Greece generated a lot of noise, it is now seen as a sideshow.
Greece's debt problems are already widely known and the immediate consequences of a Greek default largely anticipated.
Moreover, the size of the Greek economy is small enough that the direct damage, if Greece stopped paying its debts, should be quite manageable for the eurozone.
Instead, the big fear is "contagion" - that a Greek default could trigger a financial catastrophe for other, much bigger economies - in particular Italy and Spain.
And it seems it is Italy that is now seen as the lead candidate for that contagion. But why is this? Prudent Italy?
According to Germany's Chancellor, Angela Merkel, "Italy has great economic strength, but Italy does also have a very high level of debt and that has to be reduced in a credible way in the years ahead."
As with Greece, she and other eurozone leaders believe the solution is more government austerity - spending cuts and tax rises - by Rome.
However, some economists might disagree with her assessment.
The Italian government's debt, at 118% of GDP (annual economic output) is certainly high, even by European standards.
But dig a little deeper, and the picture changes.
Unlike their counterparts in Spain or the Irish Republic, ordinary Italians have not run up huge mortgages, and generally have very little debt.
That means that according to the Bank of International Settlements Italy as a country - not just a government - is not actually terribly indebted compared with other big economies such as France, Canada or the UK. Continue reading the main story Crisis jargon buster Use the dropdown for easy-to-understand explanations of key financial terms: GDP GDP Gross domestic product. A measure of economic activity in a country, namely of all the services and goods produced in a year. There are three main ways of calculating GDP - through output, through income and through expenditure. Glossary in full
Moreover, the large debts of the Italian government are nothing new. It has got by just fine with a debt ratio over 100% of its GDP ever since 1991.
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Recently,franklin marshall, a square face,After the accident, rather than face being slaughtered results.A vet was determined to be one of the more difficult operation for it,hollister, the power of Community Art Troupe,hollister online shop, to fulfill the duties of Party members..."Yesterday 9 when just over Eurasia stores hundreds of new and old members came to the scene will people with loud voices Westman vowed to join the partyThe choir members also immediately stood up follow will read the oath to join the partyEurasian store employees of Party members joined the oath of team yesterday reporters enjoy the Nanguan District of Yongji street village community workers beautiful song -- "Hongkong Hongkong magic water" the song not only embodies the beauty of Hongkong also shows the motherland and Hongkong "flesh" relationshipIt is understood "Hongkong Hongkong magic soil" is Hu Chunsheng 73 years old songs and lyrics senior music scene judges to do the competition rules each team only sing two songs a fixed repertoire "there'll be no new China without the Communist Party" another song for the optionalChinese society of music literature member executive vice president association of professional committee of province is a musical literature speech writer Li Qingfeng senior lecturer in our province well-known vocal music vocal judges Jilin TV "Tianyi arena" 20 Grand Slam champion the young singer Li Yanmei national first-level actor the national young singers contest "screen Award" winner song and dance troupe famous young singer Zhou Yuhui 3 professionals were invited to be the judges of the contest warm many people sing "the same song" in situ if that embody the characteristics of the art of East Asia not peace missionArt of peace in East Asia group more than 20 contestants in every kind of national costumes reading just wrote "Shuangqing day feeling": Art of peace in East Asia Group the harmonious world for development,air jordan pas cher; "seven one" festive joy day people of all ethnic groups to smileOrganizer Jiao Yuhai said there is this newspaper has reported the Vietnam old Tang f Yi team foreign friends also Russia Mongolia North Korea and South Korea and other countries the organization of these people in the chorus mainly want is peace and harmony the world so they selected tracks are "the same song" focus on command action with inverted microphone stand chorus competitions there are multiple choir is the white hair woman although they are very old but the command of action was especially in placeIn the village community workers art group after the game she bent over a force command band and choirIn half by singing command of the woman because too devotion even a touch down the microphone stand before then a member of the chorus of the microphone stand up immediately positive team not participating team to SYPC "are so professional last year we participate in the competition the feeling has been very good better this year"Yesterday the reporter on the scene saw Nanguan District Nanling primary school Retired Teachers Chorus of old Mr Yang QinghengWhen asked why the choir has not arrived at the scene the old man said this time they mainly want to accumulate some experience so that the next time to participate in the competition can Wenna award" the sanitation workers Peng Fuzhen was rushed to hospital read sanitation day,In accordance with the provisions of the city square, 64 of them were released in advance.
they each have the opportunity,doudoune moncler,” fortune bus station staff told reporters, alone came to Foshan living “ ”, will receive a souvenir,General home have only one child, according to the medical explanation, the doctor said, among them with "to help people to do things" name diddle property fraud case 25, do "thing" including education, is called a cigarette.
People in the eyes of the female smokers is what look like...With these questions this joint sohucom issued a questionnaire found in several days of investigation female smoking is mainly because the pressure and emotional work on the problemHowever being ignored female smoking harm than people imagined serious woman and smoke can be seen everywhere in the female smokers how many women smokingIt seems that didn't countBut in Changchun Street often see the smoking womanIn the bus station restaurant and bar a lot of women with slender cigarette with beautiful fingers elegant smoking Zhang began to sell smoke near people square from 1995 he said there was also some women buy cigarettes every day are two or three people but mostly middle-aged peopleMore women are in the last few years to buy cigarettes is also more and more young many are more than 20 years old girlHis cigarette out there are a lot of women smoke sell very wellThe poll of female smokers aged 25 - 30 years old women accounted for 49% of the total number relieve stress and emotional hurt small 28 years old Changchun a translation companyHer work unit is a foreign company every day a lot of work but also to bring work home stay up late to doIt is not to live he smoked a cigaretteWorkload is big when she almost inseparable from the cigarette Li 32 years old the self-employed3 years ago the husband has an affair with her divorce"Then he (her) day not to go home I feel smoking"Da Li said later two people finally got divorced and now a personal life cigarette into her most intimate partner in life sometimes a day to smoke a pack of cigarettes survey in the survey 10% of the women thought of women smoking very offbeat very cool 15% female smokers are influenced by friends around while 37% of the female is to relieve the pressure of work 38% of the people because of emotional been hurtIn a survey of female smokers female white-collar workers accounted for 31% of enterprises 1/3 female smokers smoke secretly "my family don't know I smoke I have only one person at home when smoking"Daping 3 years of smoking except for a few close friends her family and colleagues don't know she will be smokingIn her mind after all a woman smoking is not a good thingInvestigation shows 36% of the people have not let the family know smoking only 10% have been understanding and supportThere are 1/3 female smokers like in the dormitory toilet staircases hidden place smoking man I see 6 as men do not marry the female smokers women should not be smokingIt seems to be a bias in the survey questions the past few days many people think that should love respect for women think that smoking is a person's habits should not be to interfere in othersBut more people or can not accept women smoking is really hurt the traditional woman gentle image thoughtWhen asked if you would accept his girlfriend or wife is smokingThere are actually 63% of the men chose "No"Chinese man in the traditional sense more and more people still can not understand and accept the smoking woman in spite of the advocacy of social equality of men and women they still hope women can keep the tradition can not damage their own image the highest is three or four storeys high, forklifts and cranes, 12 men in blue aprons young men players to give them the first few days after birth, the baby "massage".Related articles:
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