By Jason Raznick
All of the other PIIGS have already been through their share of trials and tribulations. Some of those problems are still ongoing and the European debt crisis may be set to claim Italy, the "I" in PIGS, as its next victim.
To its credit, Italy has not been slammed the way its PIGS brethren have been thus far, but that may change as Standard & Poor's is mulling a credit rating cut. That's not good news for global equity markets in the near-term
Portugal and Greece are one thing, well two, but you get the meaning. Italy is a whole other ball of wax. Italy was the tenth largest economy in the world last year, according to the International Monetary Fund. That's way bigger than Greece or Portugal and a fair bit larger than Spain.
S&P did affirm Italy's A+ rating over the weekend, but cut its
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