The bloc’s greatest weakness is not its spending, but its politics
Tag: underlines
An Italian budget showdown underlines the need for euro-zone reform
THE FATE of the euro was always going to depend on Italy. With annual GDP of more than €1.6trn ($ 1.9trn), about 15% of euro-area output and debt of nearly €2.3trn, it poses a challenge to the single currency that Europe seems unable to manage but cannot avoid. Matters are now coming to a head, […]
