Tuesday, July 12, 2016

IMF Warns Italy That It Is Facing 20 Years Of Recession

The Guardian: IMF warns Italy of two-decade-long recession

Eurozone’s third biggest economy may not recover from 2008 financial crash until mid-2020s, according the fund’s annual report.

The fragile state of Italian banks in the fraught post-Brexit financial climate has been highlighted by the International Monetary Fund, in a stark warning that the eurozone’s third biggest economy will have suffered for almost two decades before it starts to recover the ground lost since the 2008 financial crash.

Italian banks suffered fresh heavy losses on Monday as the European Union insisted that Matteo Renzi’s centre-left government abide by state-aid rules that limit Rome’s scope to provide help to banks burdened by the non-performing loans (NPLs) caused by economic stagnation.

Read more ....

WNU Editor: When a country like Italy owes hundreds of billions of dollars .... money that was borrowed by past by governments with no interest on what would be the long term impact of implementing such economic policies .... the consequences are always bad when the money runs out. And in the case of Italy .... it is now very bad.

More News On The IMF Report That Italy Is facing 20 Years Of Recession

Italy economy: IMF says country has 'two lost decades' of growth -- BBC
IMF says Italy faces 'monumental challenge', cuts growth outlook -- Reuters
Italy to face two-decade recession:IMF -- Politico
IMF urges Italy to tackle slow growth and bank crisis -- DW
IMF cuts Italy growth outlook, warning of 'monumental challenge' ahead -- RT


Young Communist said...

IMF, that shit, is going to plan another attack on my country like happened in 2011?

Renzi is of the left? Yeah, like Berlusconi is a communist.
Two arrogant liars with others evil el├Čte bureaucrats like Treu, Prodi, Visco, Draghi, Monti, Padoan... a bunch of assholes that put our country in the "cul de sac" we are today.

And for our public debt

If someone read italian... the PIL (Prodotto Interno Lordo) is GDP, its grown when our central bank, Bankitalia, separate from Treasury ministry that start an occult profit bubble on our state titles.

They have no interest on long term impact of this?
No, they know exactly what they do.
And for what.

But when come the day for US to start to pay for their world financial crashes?

War News Updates Editor said...

I knew when I was putting up this post that my Young Communist was going to respond.