Italy Considers Suing Standard & Poor's
Does This Ratings Agency Make My Debt Look Fat?
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  • crocodilechuck

    Its not a ‘shambolic economy’. ITA runs a primary surplus.


    • vepxistqaosani

      Sure, Italy would be far worse off if it didn’t have a trade surplus — but it still has a budget deficit and carries a lot of debt. Why, it’s almost as bad off as the US.
      But the US, at least, does not have (yet) a youth unemployment rate over 40% — and that’s the real mark of a ‘shambolic economy.’

      • crocodilechuck

        Its not that cut and dried. If ITA had its own currency (Lira Mk 2?) it could devalue, its goods would become more competitive and booming exports could assist in digging itself out of its hole.

        This is one big reason why unemployment is so high-not just in ITA, but the other southern Med countries.

  • free_agent

    They write, “Italy’s history, art or landscape which, as universally recognised, are the basis of its economic strength”. That’s actually true, although it would be better phrased “… the basis of what economic strength Italy has.”

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