Italy’s announcement of a tentative budget deficit goal of 2.4% of GDP over 2019-2021 could compound the country’s existing debt sustainability challenges. This represents a significant risk to Italy’s A-/Negative Outlook ratings.

Greek Prime Minister Alexis Tsipras won a resounding mandate to reject the package of austerity measures on the table in Greece’s referendum yesterday. This is but the latest twist in a road that increasingly seems to be leading towards Greece’s departure from the eurozone.

The European Central Bank (ECB) is embarking on quantitative easing (QE) at a time when tailwinds are already beginning to build behind the euro area economy. Threadneedle Investments’ fixed income fund manager Martin Harvey asks if we can dare to dream of a brighter 2015.

Within the large investment banks, special teams consisting of 10 to 30 people have been assembled in order to develop rescue kits designed to face all types of scenarios resulting from a breakup of the Eurozone.