Italy joins the submerging nations

Jonathan Pain  |  The Pain Report |  19 July 2011

In the past few weeks, it's become clear that Italy must now be included in the group of submerging economies - and that portfolios should become more cautious and defensive.
 

Edited transcript

Unfortunately, Italy looks as if it has joined the submerging economies, a phrase I coined several years ago. The submerging nations are comprised of the US, UK, Japan, Iceland, Ireland, Greece, and Portugal - and now, I would incorporate Ita...