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Here's why the eurozone may not survive this crisis:
1. There is a solution to the economic impact - direct monetary financing of government expenditures.
2. If the US/UK recover quicker than the eurozone, then it is perfectly reasonable for Italy to want to follow their path.
1. There is a solution to the economic impact - direct monetary financing of government expenditures.
2. If the US/UK recover quicker than the eurozone, then it is perfectly reasonable for Italy to want to follow their path.
3. This path means removing the constraints of governing a currency with other countries, such as the Netherlands.
4. Given the refusal of some countries to unconditionally support Italy when they needed it the most, why should they care about their impact of leaving the euro?
4. Given the refusal of some countries to unconditionally support Italy when they needed it the most, why should they care about their impact of leaving the euro?
5. Leaving the euro has huge costs for Italy too, but when you are already in the pits, what more have you to lose?
7. The eurozone simply cannot work without the capacity to have a shared monetary and fiscal policy framework.
7. The eurozone simply cannot work without the capacity to have a shared monetary and fiscal policy framework.
6. In this context, the narrative of reclaiming national fiscal and monetary sovereignty is not just a populist electoral slogan, it makes a lot of economic sense.
7. This is why the Dutch need to be put in their place.
7. This is why the Dutch need to be put in their place.
