As I noted in my comment to ECR / Euromoney and in my article for Sunday Business Post (see links here: http://trueeconomics.blogspot.com/2018/05/21518-risk-experts-take-flight-over.html and http://trueeconomics.blogspot.com/2018/05/21528-trouble-is-brewing-in-euro.html), the ongoing process of Government formation in Italy represents a fallout from the substantial VUCA events arising from the recent elections, and as such warrants a significant (albeit delayed) repricing of country sovereign risks. This process is now underway:
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