The Italian election: Who can save Italy?

Posted: February 14, 2013 in economy
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The missing $20 trillion

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The Italian election


Europe’s most sluggish economy needs more of Mario Monti’s reforms

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THE danger for Europe’s single currency seems to have abated. Bond yields in peripheral countries have fallen; worries that some members might be forced out have dissipated; budget deficits have shrunk; the first signs of recovery are showing in Ireland and even Spain. Yet the euro zone’s crisis is far from over. Rather, its acute phase has become chronic. The concern has moved from just bust budgets and broken banks, to a lack of jobs and slow growth.
Lost competitiveness, high unemployment and stagnation were always the biggest long-term risks for Europe’s single currency. These problems may be most obvious in the usual peripheral suspects—Greece, Spain and Portugal, but are not confined there. The euro zone remains in recession. The economies of Germany and France shrank in the fourth …

via Economic Crisis


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