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The Hansa group is over. And several European capitals truly fear the Dutch may take down the euro.
My piece for @IrishTimes https://www.irishtimes.com/news/world/europe/this-time-the-future-of-the-euro-really-is-at-stake-1.4224394
My piece for @IrishTimes https://www.irishtimes.com/news/world/europe/this-time-the-future-of-the-euro-really-is-at-stake-1.4224394
A few myths need busting.
- Italy is a net EU contributor
- bailouts were loans not gifts
- no one has asked the Dutch for money
- net interest repayments, Greece, Italy, Ireland and Spain have run budget surpluses for a decade while NL has been in deficit https://twitter.com/alexandreafonso/status/1245343617285263361?s=19
- Italy is a net EU contributor
- bailouts were loans not gifts
- no one has asked the Dutch for money
- net interest repayments, Greece, Italy, Ireland and Spain have run budget surpluses for a decade while NL has been in deficit https://twitter.com/alexandreafonso/status/1245343617285263361?s=19
'Cursed words' reveal a lot of history.
'Memorandum of understanding' is a forbidden word in Greece.
In Italy the initials for the European Stability Mechanism, 'MES' are inherently spooky, an ominous shorthand like 'Troika' in Ireland.
Look at Italian headlines today.
'Memorandum of understanding' is a forbidden word in Greece.
In Italy the initials for the European Stability Mechanism, 'MES' are inherently spooky, an ominous shorthand like 'Troika' in Ireland.
Look at Italian headlines today.
"If the Mes comes to Italy here's what will happen... a plan of tears and blood reforms," writes http://money.it .
The compromise now sought is to offer the loans without the requirement for austerity.
The 'Mes' branding will still be a problem for Italy though.
The compromise now sought is to offer the loans without the requirement for austerity.
The 'Mes' branding will still be a problem for Italy though.
