THE END OF THE EURO!

When the virus crisis ends, probably in about a year when a vaccine will have been successfully tested, expect Italy to negotiate a withdrawal from the ill-thought Euro.

The single currency has been marvellous for Germany, giving that highly productive nation a discounted currency advantage.

Conversely it’s caused havoc in South Europe, bringing all the standard problems of an over-valued currency.

Already deep in the economic poo, Italy will have no choice but to leave the Euro and return to the Lira. If the EU forbids this then Italy will need to leave the union as well. Much the same can be said about Spain although its pre-virus economy was not the mess Italy’s is.

Return to a floating Lira and within 3–4 years Italy will be back on an even keel.

 

 

 

2 Comments

An encouraging prospect.

Like

Italy is stuffed due to demographics. Average age of 46, >30% youth unemployment. Young people with get up and go get up and leave, and few will come back. It is in terminal decline and can’t be rescued.

Like

Leave a Reply

Name and email address are required. Your email address will not be published.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <pre> <q cite=""> <s> <strike> <strong> 

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: