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.
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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