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Still, Italy has a competitiveness problem as its growth (or lack of growth) is consistently lower than all major economies in the Eurozone and has been lower for quite some time now.
If Italy's economy continues to underperform, a debt crisis in the future cannot be avoided.
No doubt, I just stated that Italy is, literally, "too big to fail" since it's nonetheless a huge economy (the 4th of the Eurozone), obviously it has enormous problems, living here I know them.
No doubt, I just stated that Italy is, literally, "too big to fail" since it's nonetheless a huge economy (the 4th of the Eurozone), obviously it has enormous problems, living here I know them.
Yeah. Some people think that Italy is another Greece. It's not. In fact Greece is a smaller economy than Finland, though they have double our population.
Italy again, it's the world's 8th largest economy, larger than Russia or India. It's definitely waaaaay too big to fail or fall. If it does (which it won't, though living on bought time), it's thank you and good night for all of us.
l think in Greece the press and television news are telling the truth, in Italy I do not know what the hell they are doing cose l use to read the English newspapers ..in which there is the added value of British humor
Yeah. Some people think that Italy is another Greece. It's not. In fact Greece is a smaller economy than Finland, though they have double our population.
Italy again, it's the world's 8th largest economy, larger than Russia or India. It's definitely waaaaay too big to fail or fall. If it does (which it won't, though living on bought time), it's thank you and good night for all of us.
Actually, an Italian debt crisis need not end up in a catastrophe, but it could simply results in an agreement between the Trojka and Italy in which some debt haircut and postponement is exchanged for some reforms.
And as an Italian I am all for that. Italy is in bad need of reforms, namely of spending cuts, and namely again of cuts on all that spending that goes towards the Southern regions of Italy.
Regions such as Sicilia, Calabria and Campania are a drag on the whole country, and are as bad managed (if not worse) as Greece. They are constantly wasting good money from the productive regions of the country and there is no end in sight of this waste.
The sooner the Trojka forces a serious revision of all this wasteful spending the better, as far as I am concerned.
And as an Italian I am all for that. Italy is in bad need of reforms, namely of spending cuts, and namely again of cuts on all that spending that goes towards the Southern regions of Italy.
Regions such as Sicilia, Calabria and Campania are a drag on the whole country, and are as bad managed (if not worse) as Greece. They are constantly wasting good money from the productive regions of the country and there is no end in sight of this waste.
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Italy always experienced problems with official figures, so the country might be falling to pieces according to the Financial Times but having a high gowth on "street level". Submerged and parallel economies are very important.
socialism is great until you run out of other peoples money.
Quote:
Originally Posted by Tall Traveler
I hope but doubt that countries like USA & Italy learn from Greece. Italy would throw the world for a loop, USA or China defaulting would destroy the world's economics.
Italy is the 3rd economy of the Eurozone and the 8th of the World and it owes a large part of its debt to internal investors.
In the first 3 months of 2015 our economy has posted a growth of 0,3%, things are finally looking up and that's due to the reforms that have been carried by the past governments (Monti and Letta) which are finally having a positive effect on our economy
Quote:
Originally Posted by botticelli
Seems Italy has a Greece inside anyway.
This is true, the economy in Southern Italy is fvcked, Calabria and Sicily would be bankrupt if they were autonomous countries. According to the latest data, the unemployement rate in Calabria (25,1%), Sicily (23%) and Campania (21,3%) is as high as in Greece and Spain while in most of Northern and Central Italy is lower than the UE average
Northern Italy is probably among the richest, most productive and economically interesting areas in Europe, though there is a fair share of problems as well.
It's unfortunate that Italy didn't manage to solve the "Southern problem" in over 150 years of history but hey, this is Italy.
it does not feel like poverty around me to be honest, even though wages don't seem too high. Most migrants have an (illegal) job as well.
I think informal economy is pretty strong, so official data may be a bit misleading.
Italians have no shortage of good ideas and have always managed to survive in any situation. I don't see it changing anytime soon.
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