What Will Trigger The Next Crisis?

What Will Trigger The Next Crisis? is a subtext of many a Wall Street Journal article, but this week that was the headline on what I found to be an unusually succinct and comprehensible roundup of possible catalysts.

Interest Rates Jump

Bad-Loan Boom

China Cracks

Supply-Chain Disruptions

were four of the possibilities, but the one that caught me was

Italy Dumps The Euro

But Italy may be wavering. Italian bond yields spiked in May after two parties with anti-euro leanings tried to form a new government. The crisis could escalate again once politicians return from holidays. Some 59% of Italians want to keep the common currency, official surveys show—the slimmest majority in the eurozone.

I like the idea that a bunch of Italian politicians coming back from vacation is a global financial crisis waiting to happen.

La grande bellezza

In this same issue of the WSJ: