Is the political bill for Italy’s troubles finally coming due? – NBF
|Italy’s upcoming election, scheduled for March 4, comes at a very difficult time, according to Angelo Katsoras, Research Analyst at NBF.
Key Quotes
“Despite a return to modest economic growth over the past few years, the country continues to struggle with many challenges. These include: an economy that has underperformed its peers since joining the Eurozone, a very high level of public debt, a banking system burdened with nonperforming loans, high unemployment and a rapidly aging society.”
“On the political front, matters are just as challenging. The influx of migrants has generated a public backlash, support for mainstream parties is in decline and anti-EU sentiment is high. Tensions with the EU could grow even more over election promises—made to varying degrees by all the main parties—that risk straining Italy’s already precarious finances even further. Given that Italy is Europe’s fourth-largest economy, what happens in Italy will, for better or for worse, play a key role in shaping the destiny of the EU/Eurozone.”
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