CHART OF THE DAY: The New Scariest Chart In Europe

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It’s becoming more and more obvious that if Europe doesn’t come up with something big, then something very bad could happen.

Greece, in a way, seems like a lost cause. Everyone knows it will default in some way or another.

But while Greece might theoretically be ring-fencable, nobody thinks Italy is, and that’s why it’s worrisome that its 10-year yield just hit 6% today, after being much lower for a while back in August.

Eventually, the ECB will have to step in and provide a blank check.

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