Italy in Crisis?

[Labbug]

Italy changing governments before it installed a new one.  It probably has happened before to Italy, but still it is not a good situation.

https://www.cnbc.com/2018/05/29/italian-voters-brace-for-euro-showdown-ahead-of-snap-elections.html

[bayonetbrant]

good article that I found pretty informative on Business Insider

http://www.businessinsider.com/italy-politics-crisis-what-you-need-to-known-2018-5

[airboy]

Euro dropped, US and German bonds go up.  Italian Bonds fall.

The markets think there is a lot of risk in the EU based on the degree of bond and currency price changes.  I don't know if the Euro will tank anytime soon or not.  Seems like everytime crisis approaches the Northern European countries dump more loans that will never be repaid to Southern Europe and everything shuffles forward.

I'm guessing that the Euro will keep going until one of the Northern European countries rebels and decides not to ship another bunch of cash to Southern Europe.  Can't see Southern Europe dropping out as long as the cash spout keeps gushing, unless they wish to default on their loans and start anew with their old currency.  But to do that requires giving up new cash "loans."

So I'm still betting that if the EU single currency breaks up it will be because one or more of the Northern European countries decides they no longer wish to fund Southern Europe.

[Gusington]

What about the precedent with Greece? If that didn't get a northern nation to bail already, what will?

[Centurion40]

What about the precedent with Greece? If that didn't get a northern nation to bail already, what will?

Brexit?

[Staggerwing]

Better yet would be a slimmer EU with some of the belly and thigh fat trimmed away.

[Gusington]

Belly, thigh fat, and Greece.

[Sir Slash]

If Italy left the EU, what would it be called? Latin-exit or Latexit? Itexit? Italexit? Maybe Spagetti-exit? See, that's why they should stay in cause you can't make anything catchy out of they're leaving.

[Pete Dero]

If Italy left the EU, what would it be called? Latin-exit or Latexit? Itexit? Italexit? Maybe Spagetti-exit? See, that's why they should stay in cause you can't make anything catchy out of they're leaving.

Cosa Nextrit ?

[em2nought]

Seems like Northern Europe will pay any amount in order to have a sunny beach or two for sunbathing topless while on vacation.   :DD

[Pete Dero]

Seems like Northern Europe will pay any amount in order to have a sunny beach or two for sunbathing topless while on vacation.   :DD

No need.  With climate change those beaches will be in Sweden.

[Ubercat]

Sunbathers in Sweden will have to deal with Sharia law by then.

[airboy]

Even for Italy this is weird.  The two populist parties (one on the right which wants a flat tax and to kick out illegal immigrants; and one on the left that wants a lot more welfare and kick out the illegal immigrants) got a combined 50% of the vote.  They put forth a euro-skeptic Prime Minister choice.  This was vetoed by the largely ceremonial Italian President.  Now they are trying to put forth a caretaker Prime Minister who cannot get a majority vote in the legislature and have new elections.


The two parties whcih were screwed are screaming that this is a coup and they are probably right.  The Wall St. Journal editorial suggested that the Italian President made a huge mistake and that the parties which could have gotten a vote of confidence in the Parliment should have been allowed to form a government, which would have quickly collapsed like most Italian governments do (before your gelato melts).


Now the markets are going nuts because they think the Italian voters will react badly to this and give the Northern League and the 5-Star Movement an even bigger majority.

[Sir Slash]

Europe is too complex for me to keep up with. I like things that are simple. They don't have to be explainable or make sense but they should be simple. 

[JasonPratt]

Europe is too complex for me to keep up with. I like things that are simple. They don't have to be explainable or make sense but they should be simple. 

That's why Europe is the Mother of Wars. And also hella fun to study historically!