A euro crisis, again: Italy's stand-off poses questions about EU's future

Though unlike Greece, Italy is too big to fail and too big for a bail-out, but Italian government securities began to look a lot more like Greece's in just a few hectic hours

Europe appeared to be doing a lot better until very recently. Growth had returned to the euro zone, many of its most troubled economies were on the road to recovery, and the European project itself looked more secure after Brexit reminded voters across the continent of the value of the EU. Yet that hard-won stability has now been threatened by a crisis in Europe's third largest economy, also the world's eighth largest. Italy has been the weak link since the southern European nation held elections in March that once again saw forces of the centre lose ground to populists, many