The purpose of the EU Summit back on October 26 -- which seems like ages ago -- was to help Greece get on a sustainable debt footing, and to encourage immediate reforms in Italy, so that investors wouldn't lose faith in the country.
Well, leaving aside all the Greek nonsense, it seems that the objectives have already failed in Italy.
This week saw 10-year government yields continue to shoot up into the stratosphere, well above the 6% threshold that's considered vaguely sustainable.
