"The European and global economic environment has become more threatening for France in recent months, with the recession in Italy a particularly serious concern, the French finance minister said. The European Commission has also sounded the alarm about the possible threats coming from Italy." France and Italy on the brink of recession? And this is a Reuters/Bloomberg story and they know what they're talking about. Looks like we're getting out just in time - think 'dominoes''? That's IF we get out, and if May has anything to do with it, we won't? Don't panic, don't panic!! https://www.bloomberg.com/news/arti...-italian-recession-threatens-france-s-economy
ECB has just agreed to a massive tranche of cash for EU banks to boost the Eurozone...interest rates to remain the same up to 2020...bit more easing to help the Greeks and Italians et al
That France is on the brink of recession isn't surprising. They've been loading up on migrants and pushing anti-business policies with a sea of regulations so onerous even common people have come out onto the streets complaining. Italy has always been on the brink of being a second world country. People don't seem to like to think about it, but their overall standards of living economically are a bit lower than what's typical for "First World". That their economy would show more vulnerability to issues isn't really too surprising, just like we wouldn't really be surprised at a recession taking place in Mexico.
But the ECB can't keep propping up in extremis member states? I believe the end of Le Grande Projet is in sight; but after last night in Westminster - now that we're still going to be a part of it, we won't escape the consequences. Even I warmed to May last night when she gave that extremely pointed comment about 'the fragility of trust between the political class and the population'. This is going to end in some serious **** on the streets. And the Tories being elected in the next 3 terms? Forget it, they've committed political suicide and Starmer will be in occupancy at No 10 for the entire period; there's anarchy in the House of Commons now, and it won't be good for any of us.
IMO part of Italy's problem is that it appears to be (at least) two different countries badly stitched together. Northern Italy is an industrial and technological powerhouse akin to Austria or Germany, Southern Italy is a bucolic reserve of agriculture, religious adherence and organised crime more like Albania.
It would be interesting to know how many migrants the Italian welfare services are sustaining? And how much France is paying out to migrants - or more accurately, paying out the migrants to then hand over to the traffickers - to cross the channel??
Probably a lot less than France. The Italians take a much less care free attitude towards this migration than the French. Especially in the South where many of these migrants are landing. Vigilantee groups have been known to wait on the beachfronts and chase them back to their boats with hounds. 'Pack your bags': Italy's new interior minister talks tough on migrants