The Italian Mind

Reflections from the Boot

Italy and the Economic Crisis

While the world economic crisis is hovering over major economic centres all over Europe and North America, the German magazine Der Spiegel has intervied the Italian Prime Minister Mario Monti on the issue.
He warned of a potential breakup of Europe if greater and quicker efforts are deployed to lower government borrowing costs, as a stand-off over European Central Bank help for Italy and Spain hardened.
‘Disagreements within the 17-nation euro area are detracting from the policy response to the debt crisis and undermining the future of the European Union’, Mr.Monti added.
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