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2016-07-15

Could Italy Bring Down The Euro?

A move by Italy — the third-largest economy in the eurozone — to abandon the euro could strike a potentially fatal blow to the currency and to the bloc itself.

Meanwhile, at more than 130% of GDP, Italy has one of the biggest public debt burdens in Europe, second only to Greece.

"A perfect storm of slow or zero Italian economic growth, low interest rates and politically connected, often corrupt, lending have combined to create a situation where the Italian financial system is in need of a large rescue." — Mihir Kapadia, Sun Global Investments.

M5S blames the euro for Italy's woes, and many Italians agree.

The eurosceptic Five Star Movement (M5S) has overtaken Prime Minister Matteo Renzi's Democratic Party (PD) in several opinion polls and is now the most popular political party in Italy.

Zerohedge 15 July 2016

About Italy at IntCom



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