“The nation is richer than Germany in per capita terms, with some €9 trillion of private wealth. It has the biggest primary budget surplus in the G7 bloc. Its combined public and private debt is 265pc of GDP, lower than in France, Holland, the UK, the US or Japan.
It scores top of the International Monetary Fund’s index for “long-term debt sustainability” among key industrial nations, precisely because it reformed the pension structure long ago under Silvio Berlusconi.
“They have a vibrant export sector, and a primary surplus. If there is any country in EMU that would benefit from leaving the euro and restoring competitiveness, it is obviously XXXX,” said Andrew Roberts from RBS.”
From the Daily Telegraph, By Ambrose Evans-Pritchard, 9:09PM GMT 10 Dec 2012.
Now guess….what country is he talking about? The answer is: XXXX = ITALY
If you are curious, then check out the full article on the Daily Telegraph web-site.
C’è anche un interessante intervista a Tremonti, in cui spiega più o meno le stesse cose…e ripeto: Tremonti!
OTHER MATERIAL IN ENGLISH:
Ambrose Evans-Pritchard wrote another article on the topic, check out on the Telegraph web-site, 11:27 AM GMT 14 Aug 2014.
“Italy needs Churchillian leader to fight ‘war damage’ of EU austerity. Old ways die hard. Two months after Italian voters rebelled in fury against the establishment, the country’s elites have chosen yet another insider to be leader.”
For more (and recent) information on the current situation and on what is needed to do, I also suggest to read Bill Mitchell – billy blog:
A rogue nation is needed to exit the Eurozone
“…the Eurozone is structurally biased towards stagnation because of the neo-liberal rules that constrain national governments from dealing with large spending collapses with appropriately scaled fiscal responses. The crisis in now into its 6th year and there is little sign that the stagnation is over. Indeed, the latest data would suggest that some of its largest economies are going backwards still. Italy has just announced it is back in recession and factory orders to Germany have plunged. I have been saying it for years but repetition is no sin – they should dismantle the currency union in an orderly manner and allow the national governments to return to growth in their own way. The nations are incapable of doing that collectively given the neo-liberal Groupthink that has them in a vice. So, a rogue nation is needed to break out of the straitjacket and provide a blueprint for the others. Italy should be that nation. In many ways it has panache and flair – it is time to show it in this specific way.”