Recent quotes:
Italy must choose between the euro and its own economic survival
"Italy is enormously vulnerable. It has gone through a whole global recovery with no growth," said Simon Tilford from the Centre for European Reform. "Core inflation is at dangerously low levels. The government has almost no policy ammunition to fight recession." Italy needs root-and-branch reform but that is by nature contractionary in the short-run. It is viable only with a blast of investment to cushion the shock, says Mr Tilford, but no such New Deal is on the horizon. Legally, the EU Fiscal Compact obliges Italy to do the exact opposite: to run budget surpluses large enough to cut its debt ratio by 3.6pc of GDP every year for twenty years. Do you laugh or cry?Italy must choose between the euro and its own economic survival
Italy is now in the worst of all worlds. It cannot take normal sovereign action to stabilize the banking system because of EU rules and meddling, yet there is no EMU banking union worth the name and no pan-EMU deposit insurance to share the burden. "We're going to be in big trouble if there is another recession," said Mr Codogno.Il fiammifero della Guidi e l'incendio che ora divampa - Repubblica.it
ho invece rivisto la mia contrarietà al comando solitario. L'ho rivista per due ragioni: la prima riguarda l'estrema complessità dei problemi che oggi ogni governo deve fronteggiare nel proprio Paese, in Europa e nel mondo. La seconda sta nella constatazione che una società globale complica ancor più la complessità dei problemi e la maggiore rapidità necessaria per risolverli.
