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Italy never fulfilled the entry criteria for joining the euro and was likely to do so. Just as with Greece. The ECB knew it for Italy, just as they did for Greece.

This is the central damning failure of the euro and the ideas underlying it. Failures that are likely to bring about the end of the EU which will be torn apart as country after country go under and descend into some form of authoritarian control demanding border controls

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Wed Aug 1st, 2018 at 07:47:42 PM EST
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So I suppose you're over your panic?

Diversity is the key to economic and political evolution.
by Cat on Wed Aug 1st, 2018 at 08:07:51 PM EST
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Panic? I don't think I ever descended into panic, just a cynicism about the Tories and brexit that slumped into the dawning realisation that the UK Govt would follow the Cockburn rule of doing the "worst possible thing in the worst possible way".

I am now totally at one with the universe and can look at the night sky and see the flaming meteor of death looming and know there is no way to dodge it. Panic is pointless in such circumstances

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Thu Aug 2nd, 2018 at 01:06:41 PM EST
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< wipes tears >
alrighty then

Diversity is the key to economic and political evolution.
by Cat on Thu Aug 2nd, 2018 at 01:20:19 PM EST
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