ECB Says Italy Must Recover Alone, but Fate of Euro Zone in Balance
European Central Bank (ECB) policymaker Joerg Asmussen said Italy is too big to be rescued by external forces. Unfortunately for Europe, Italy, currently in its longest-ever post-war recession, is the third-largest economy in the euro zone. “In this sense, the future of the euro area will not be decided in Paris or Berlin, or in Frankfurt or Brussels. It will be decided in Rome, ” said Asmussen. However, he is optimistic regarding Italy’s future prospects.
What do you think? Will Italy falter and recover, and will it drag the European Union up or down with it? Chime in below.