Italy’s finance minister INCREDIBLY blames nation’s banking crisis… ON BREXIT

As said in the previous post about Italy, it’s convenient to blame others for your problem to keep the attention away.

 

BRITAIN’S vote to leave the European Union (EU) is to blame for the disastrous state of Italy’s banks – and not Rome’s heavily criticised policymakers – according to the finance minister.

Pier Carlo Padoan has sought to deflect attention from himself against allegations the Italian government could have prevented the country’s current banking crisis by laying fault with the Brexit vote, despite the financial crisis hugely pre-dating the referendum.

The minister said instability of several of the banks aren’t the cause of the turmoil now rocking the Italian financial system, reported German newspaper Spiegel. Continue reading

Forget Brexit — Italy is poised to tear Europe apart

Great Britain was always a convenient scapegoat for the EU woes to take attention off domestic problems for member states, such as Italy. Matter of fact, Great Britain was the most sound of the lot and had dodged a bullet. Moreover, Italy has been in a near-collapse state for years

 

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Italy is on the cusp of tearing Europe apart but the economic and political crisis brewing in the nation is largely going unnoticed.

All eyes have turned to Britain’s vote to leave the European Union as having the most drastic political and economic impact onto the 28-nation state but if you look at the country’s economic data, bank issues, and the impending constitutional referendum coming up, Italy is like a bomb waiting to explode.

The Italian financial system, which to put it gently, is in a major state of flux right now. While Britain’s EU referendum in June was seismic in terms of having economic and political repercussions across the bloc, there is another referendum of equal importance, coming up in Italy in October, and the result could fundamentally alter the state of the already delicate Italian economy.

Continue reading