The return of the euro crisis foretold - AEI

The return of the euro crisis foretold - AEI:
"Anyone who thought that the Eurozone debt crisis was resolved has not been paying attention to economic and political developments in Italy, the Eurozone’s third-largest member country.
They have certainly not been focusing on how very vulnerable the Italian economy remains to a less favorable international economic environment and to more challenging global liquidity conditions than those that have prevailed over the past few years.
Nor have they been drawing the implications for economic policy from the recent Italian parliamentary election. 
That election saw a surge in support for populist political parties not known for their commitment to economic orthodoxy or to real economic reform.
At a minimum, this is likely to usher in a prolonged period of Italian political uncertainty.
To say that the Italian economy is in a very poor state would be a gross understatement..."
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