Little old Italy, you might ask. While small in land mass, the Italian government has borrowed mightily: the fourth largest bond market in the world, behind, China, Japan and you know who.
All tagged Italy
Schianto in Italiano Means Crash
The ECB gets its money to buy assets the same way the Fed, or any central bank, does--out of thin air. If government bonds are in short supply, central banks can always follow the Bank of Japan’s lead, buying ETFs in addition to corporate and sovereign bonds.
Grexit Spells Trouble For Trump's Bubbleland
Investors may have forgotten that the U.S. market swoons when Greeks get handouts. July will be here soon and the Greeks owe a $7.42 billion bond payment they have no hope of paying.