Fitch Warns of "Cataclysmic" Euro Collapse

Fitch Ratings said today that the European Central Bank must increase its debt buying to support Italy and prevent a “cataclysmic” collapse of the euro. Speaking at an investors event, David Riley, the head of sovereign ratings for Fitch, said the collapse of Italy would almost assuredly mean the end of the Eurozone.

“It is hard to believe the euro will survive if Italy does not make it through,” Riley said, adding that while many saw Italy as too politically and economically important to be allowed to fail, “one might also argue that it is too big to rescue.”

Source: Reuters