|
||
Relevant:
|
2016-07-09 — valuewalk.com
"In the aftermath of the Brexit vote there is an increasing fear of other dominoes falling within the heart of the EU -- the eurozone," Edwards wrote. "Italy is bleeping very loudly on most people's radars with its banking crisis and impending referendum seen as leaving the country on a knife-edge."
The Italian banking crisis is important, but it is not the primary problem. "It is a symptom of the problem that problem being a perpetually stagnant economy and deflation," he wrote. "Italy simply does not appear to be able to grow inside the eurozone and more importantly probably never will." Italy may fall in October or may not, but it will eventually occur... "Indeed the Italian economy has barely grown one jot since it joined the eurozone at the start of 1999 while Germany has grown rich," he said, pointing to one clear winner with many clear losers. "As inevitably people compare their fortunes with that of their neighbours, the Italians are mighty pissed off." But it's not just the Italians. Based on unemployment figures -- an economic number that impacts most voters the most -- the entire Eurozone, most notably Italy and France, have seen unemployment rise since joining the union. One country, however, has benefited. Germany, the country that has the most significant influence over regional and central banking affairs, has seen its unemployment drop to record lows. source article | permalink | discuss | subscribe by: | RSS | email Comments: Be the first to add a comment add a comment | go to forum thread Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately. |