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UltraWoof
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Italy Increasingly Likely to Abandon the Euro - Mish - Global Economic Analysis

No surprise. For as long as I can remember, Italy has always (at least since WWII) had their way with the Lira by saying "We believe our Lira is strong, and we won't devalue it", and then they'd go and devalue it. Then they'd apologize and promise that they would never do that again, until the next time. Then they'd redo and revamp the government for the umptennth time, and say "We want a strong currency, except sort of on a lower level, not riight now, but may be later". (Of course I am kidding.)

In view of this, it might be not "that far out" to expect that the E U could come up with a "Northern Euro" and a "Southern Euro". The NEU and the SEU. Italy, Greece, the Balkans, Spain get to do what they want with the SEU, and Germany, Austria, France, Belgium, Netherlands, Denmark, Sweden etc. get to manage their NEU the way they see fit. Tadaa, and everyone is happy, wadda-ya-say? How will Poland or Hungary decide in this scheme? or Romania, Bulgaria? Kinda hard to say.

Ok, I KNOW it's not that simple, but it's fun to write about it. Since I can't solve my own problems, helping out with other problems is a welcome distraction.

Commented 2625 days ago

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Beginning of the headline :An analysis of the political setup in Italy shows eurosceptics are on the verge of taking control of the country. The only missing ingredient is an early election. And early elections are now the odds-on favorite. Let’s back up a bit to fill in the pieces as to how things got to this point. Former prime minister Matteo Renzi stepped down in December after holding a referendum that failed miserably. See Renzi Resigns Following Crushing Referendum Defeat: Beppe Grillo, Marine le Pen, Matteo Salv... Read More

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