The European Central Bank’s grand plans have not brought Southern Europe back from depression-like conditions. Italy Mauldin

I cannot state this strongly enough: Italy is dramatically important, and it is on the brink of a radical break with European Union policy that will cascade into countries all over Europe and see them going their own way with regard to their banking systems. 

Italian politicians cannot allow Italian citizens to lose hundreds of billions, if not trillions, of euros to bank “bail-ins.”

John Mauldin 16 July 2016