Roughly 15 years ago, Italy proved too big to fail.

It took an Italian promising “whatever it takes” to keep the Eurozone and the euro together. Today, investors demand a higher yield from France than from Italy. How long until we hear “quoi qu’il en coûte”, the French version of “whatever it takes”, accompanied by massive ECB intervention to keep the Eurozone from falling apart? And yet some still believe the euro could replace the dollar as the world’s reserve currency. The euro will NOT — via @jsblokland

France now yields more than Italy, signaling eurozone risk shift.