It’s a backwards world when you have to have more of what caused the crisis in the first place to ‘fix’ the problem.
ITALY’s financial crisis could bring down the entire eurozone unless the nation’s crumbling economy is allowed to rack up more debt.
Near the small central Italian holiday island Ventotene, the French, Italian and German leaders this week discussing pressing issues on a boat.
But each nation is worried they could soon be forced out of power, amid growing pressure on the European Union which major concerns over migration and the economy.
Angela Merkel, for example, faces federal elections in autumn 2017.
The German leader doesn’t want the impending disasters ahead of time and is hoping to put the Brexit negotiations on the back burner.
Italy’s Premier Matteo Renzi could support Merkel’s desire if she stands by his side over the economy.
That would mean allowing Rome to rack up billions in extra debt to support the country, something the other EU leaders strongly disagree with.
French president François Hollande probably wouldn’t even have to compete against the right-wing Marine Le Pen in France in the spring presidential elections in the event of a new euro crisis.
The second largest economy of the eurozone is already weakening and more negativity from southeastern neighbours Italy would be devastating.
Mr Renzi now faces his day of reckoning this Autumn.
Full article: FINANCIAL WARNING: Italy will CRASH the eurozone if nation can’t take on more debt (Express)