‘Yet a new recession would cause financial markets to become even more deeply divided along national lines, while strengthening the correlation between sovereign and bank risk... project-syndicate.org/commentary/eur…
‘Many countries would have limited scope for counter-cyclical fiscal policy, either because of the EU’s rules on public debt or because market tolerance for public debt is lower in a monetary union, as has become apparent since 2010.‘
‘Furthermore, given the lack of any common fiscal capacity, there is no institution or mechanism that can apply fiscal stimulus to the eurozone as a whole. Reforms that would address this cannot be expected in the next few months.’
In sintesi: una crisi arriverà e l’Eurozona, a causa di assurde regole sul debito, non potrà affrontarle.
‘More fundamentally, such coordination would go some way toward rebuilding mutual trust, which has been sorely lacking in Europe. This could amount to a powerful refutation of the tactic, adopted by countries like Italy, of aggressively confronting the EU authorities’
Alla fine la colpa è pure nostra... roba da non crederci. Accade sempre così, la colpa è del bambino che dice che il Re è nudo.😱
