"The truth is that the Italian state went bankrupt in summer 2011, when interest rates on the national debt went out of control, and as a result Italy lost access to the financial markets. Of course, because of the sheer dimensions of Italy as an economy and as a debtor, the ECB and political authorities in Europe have agreed to create around the country’s finances the appearance of a market, which is in fact, as the numbers above show, largely artificial. Ideally, Italy should stay on this artificial support until the economic conditions improve and confidence is restored to such a level that the country will have again access to a “normal” credit market. However, this is not happening and there is no sign it is going to happen in the years to come. The situation of the Italian economy is simply dramatic."