Italy's Scary Parallel Currency Threat
Published on: Thursday 06 June 2019
Italy is the third-biggest economy in the monetary union, and had the bloc’s largest public debt in absolute terms last year. The League and the Five Star Movement, which have run the country in coalition since last June, have excluded any reference to “Ital-exit” in their governing program. This explains why a parliamentary motion on how the state pays the arrears it owes to commercial businesses, which Italy’s lower chamber passed last week, has caused such an uproar.
