Here is a very good article about Greece and Italy just now and what might happen. Less pessimistic than earlier reports.
http://www.nytimes.com/2011/11/11/world/europe/greece-and-italy-ask-technocrats-to-find-solution.html?pagewanted=1&_r=1&partner=rss&emc=rss
http://www.nytimes.com/2011/11/11/world/europe/greece-and-italy-ask-technocrats-to-find-solution.html?pagewanted=1&_r=1&partner=rss&emc=rss
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