Why the Fate of Milan Will Be the Fate of Italy
The government is deploying at least 50 billion euros ($55 billion) in economic aid, which will add to borrowings already totaling 135% of GDP, more than twice the ratio of Germany.
That growing debt load threatens to leave Italy dependent on the European Union to maintain financial stability—and could put it at the mercy of its EU partners to keep investment flowing.
The virus crisis is unfolding just as Italy’s banks have finally gotten back on their feet after the 2008 financial crisis.
Nice pics.
Bloomberg 4 April 2020
Furious at their plight being ignored and over resistance to coronabonds, Italians’ sense of betrayal deepens
“You have to consider my party is one of the most pro-European parties in Italy and I now have members writing to me saying: ‘Why do we want to stay in the EU? It is useless.’”
Donald Tusk, the former European Council president, who is now president of the European People’s party, the centre-right political alliance.
“We must save Italy, Spain and the whole of Europe and not be afraid of extraordinary measures. This is a state of emergency.”
FT 6 April 2020
That growing debt load threatens to leave Italy dependent on the European Union to maintain financial stability—and could put it at the mercy of its EU partners to keep investment flowing.
The virus crisis is unfolding just as Italy’s banks have finally gotten back on their feet after the 2008 financial crisis.
Nice pics.
Bloomberg 4 April 2020
Furious at their plight being ignored and over resistance to coronabonds, Italians’ sense of betrayal deepens
“You have to consider my party is one of the most pro-European parties in Italy and I now have members writing to me saying: ‘Why do we want to stay in the EU? It is useless.’”
Donald Tusk, the former European Council president, who is now president of the European People’s party, the centre-right political alliance.
“We must save Italy, Spain and the whole of Europe and not be afraid of extraordinary measures. This is a state of emergency.”
FT 6 April 2020
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