Non-core sovereigns: battling back from the wilderness

Such has been the tumult in European sovereign debt markets that it has been impossible to achieve consensus even on the very act of defining who is a non-core European sovereign and who is not. One certainty, however, is that the non-core is not a good place to be as a borrower. Ralph Sinclair studies the experiences of Belgium and Italy, and their plans to extract themselves from their capital market woes.