Saturday, November 28, 2020

Tag: Italy Calls Europe’s Bluff — And The Euro Loses Either Way

Italy Calls Europe’s Bluff — And The Euro Loses Either Way

by John Rubino, Dollar Collapse:

When Italy elected a bunch of rowdy populists back in March, the rest of the eurozone assumed (or at least hoped) that the weight of responsibility would bring Rome back into line. But so far the Italians appear to be serious about ending austerity and forcing the ECB to finance their spending ambitions. The just-passed Italian budget calls for a rising deficit, in direct disobedience of Continental (read German) authorities.

Now everyone involved is staring at some hard questions.