The EU Commission has rejected the Italian budget for the next fiscal period and told the Government of Italy to go away and come up with a new plan. I don't believe this will go down terribly well with the Italian electorate.
And the Italian domestic debt is now three times that of Greece, and rising.
Bail-out, anyone ?
Chaos in Italy
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Fox3WheresMyBanana
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Re: Chaos in Italy
Bail out with what?
And with what prospect of success?
It's not good money after bad. Since QE, it's just bad money after worse.
There's no plan to fix the underlying problems with any of the PIIGS economies.
The only consideration with any political entity these days is: What keeps me in power a little longer?
And with what prospect of success?
It's not good money after bad. Since QE, it's just bad money after worse.
There's no plan to fix the underlying problems with any of the PIIGS economies.
The only consideration with any political entity these days is: What keeps me in power a little longer?
Re: Chaos in Italy
So what happens if the Italian government refuses to change? After all, the rules say under3% and they're at 2.4% so are technically compliant.