The five big holes in Europe's rescue plan

EUROZONE RESCUE PLAN

Eurozone policymakers last week hammered out a solution to the sovereign debt crisis plaguing the region, but fund managers have highlighted five unknowns that may continue to worry the market.

1. WHERE NEXT FOR ITALY? “All eyes are on the credit markets to see if sovereign solvency concerns for the likes of Italy abate.” – Paul Wild, JOHCM “I do not know when the markets will focus on Italy again – it could be tomorrow or in a few weeks, however, I remain cautious.” – Charlie Deptford, Smith & Williamson “Repeated promises by Berlusconi on structural reforms will have to be seen to be believed between now and next summer.” – Jeff Taylor, Invesco Perpetual 2. IS DEFAULT STILL A RISK? “The eurozone is in an impossible situation.  The sovereign debt is uneconomical to ...