A good point from Pawelmorski here:
Worse yet, this looks more and more like a “ringfenced” Cypriot problem, as markets continue to refuse to sell off (-1.25% on EuroStoxx? a 0.1% rise in BTP (Italian govt) yields? really?)
If
Greece has been hit a bit. Italy a hair.
But even amid the Cyprus rejection, and the lack of new avenues, markets are totally ho-hum about this.
Here's Italy, up another 0.5% today.
FTSE MIB
Were markets tanking all weekend, we might see a little more blinking from Europe on this matter.