Mohamed El-Erian

After four successive days of increasing risk spreads, and after a prominent politician, Claudio Borghi, said there was an advantage to having your “own currency,” Italy is back squarely on both public and private radar screens as a potential source of systemic economic and financial disruptions…

Pity the participants in the Group of Seven meeting. The summit, which has been a collaborative gathering for like-minded countries for years, risks being dominated more by its divisions than by achievements. The leaders gathering in Canada face a stark choice in organizing their discussions…