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Roberto D'Alimonte on Domestic Divisions, calls for the Lira, and Italian D-Day in Spring of 2013

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Published on Jan 16, 2012

US markets were closed today for Martin Luther King's day, and European markets had a nice break -- not a literal one, but a break from all the beatings - after Friday's rash of downgrades from S&P, but the Eurozone crisis hasn't slowed down. Greece sends officials to Washington today for IMF meetings because of fears that a deadlock in the debt-swap talk could lead to a disorderly default. If it's this difficult for creditors to deal with Greece, how are they going to deal with a much larger country like Italy whose debt is bigger than the economies of Greece, Ireland, and Portugal put together? Despite that, Eurozone leaders, technocrats, and central bankers try to reassure markets and the media over progress in the debt crisis -- over moves towards ever closer union and tighter reform. But we'll take a look at the internal politics of one of Europe's largest economies and ask what effect dis-union is having on these so-called solutions. We'll speak to a prominent Italian columnist for Il Sole 24 Ore, and international relations professor Roberto D'Alimonte for answers. Far from the broad perspective of the debt crisis seen in the mainstream media, D'Alimonte tells us that the biggest issue facing Italy in dealing with the debt crisis are the internal divisions between North and South.

Plus, what is the psychology of a bubble? We look back over the years at Federal Reserve FOMC minutes, and when you break them down by jokes cracked, they reveal laughter peaked along with housing prices back in 2006. We wonder who is laughing now? Plus, the lingo going by the wayside of as trading moves from the floors to computers. Is the language of FOREX dying along with everything but skynet?

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