Super Marios face gargantuan challenge

The challenge facing Italy, the ECB and the eurzone is huge but not insurmountable. There are options but time is of the essence, writes Hugo Dixon

Mario Monti, left, is working to build a strong government that will oversee stringent austerity measure. ECB President Mario Draghi, right, must be prepared to use ECB as lender of last resort. Pictures: Andreas Solaro, Daniel Roland/AFP/Getty

EVEN if Mario Monti can form a strong government in Italy, the eurozone is vulnerable to bank runs and a deflationary spiral.