FT: The eurozone has just days to avoid collapse

http://www.ft.com/cms/s/0/d9a299a8-1760-11e1-b00e-00144feabdc0.html

QUOTE: I have yet to be convinced that the European Council is capable of reaching such a substantive agreement given its past record. Of course, it will agree on something and sell it as a comprehensive package. It always does. But the halt-life of these fake packages has been getting shorter. After the last summit, the financial markets’ enthusiasm over the ludicrous idea of a leveraged EFSF evaporated after less than 48 hours.  Italy’s disastrous bond auction on Friday tells us time is running out. The eurozone has 10 days at most.

I noticed the poor results from last Friday's Italy bond auction myself, and wondered if it indicated some near-term problems coming to a head....