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France and Italy Sovereign Risks vs. Returns: La Dolce Vita and Joie de Vivre
By Paul Domjan, David Nowakowski, Ibrahim Gassambe, Jennifer Kapila, Evghenia Sleptsova and William Oman
Italy has very weak growth potential and political institutions, but a much stronger external balance sheet than that of the other PIIGS and indeed arguably stronger than that of France.