Investors will be eying the bond auction this week in Italy, as weakened demand on September 13 ignited questions on the safety of Italian debt, reports Schwartz. Italy holds the second largest debt in the Eurozone, at $2.3 trillion or 120% gross domestic product, coming in behind Greece, with 150% GDP. [Italy ETFs in Focus on S&P Ratings Downgrade]
A private four day meeting was held this weekend in Washington with leaders from J.P. Morgan Chase, Goldman Sachs, Deutsche Bank, and Societe Generale. Wall Street leaders are demanding action from world governments, however, the firms representatives all differ on which government and private solution can help give markets the necessary confidence in European banks, reports Bloomberg.
iShares MSCI Europe Financials Sector
Tisha Guerrero contributed to this article.