You can't beat austerity. Such a wonderful tool to spur economic growth and prosperity.
Markit/ADACI Italy Services PMI
Key points:Italy is going to enter a depression, the likes of which even nonna never saw.
- Output and new business both decrease rapidly
over the month
- Employment levels fall solidly
- Petrol price increases maintain high cost
Read the rest in the link.
Remember Italy, like Spain, is too big to fail.