Commentary: Italy headed for ‘vicious’ debt crisis
By Desmond Lachman in Washington
Italy has succumbed to its third recession in a decade. Its government is becoming more radical in a manner that is unlikely to revive flagging investor confidence in the country. It is now openly attacking Banca d’Italia independence. Judging by its record of rolling back its predecessor’s labour market reforms, Italy’s government is unlikely to undertake those economic reforms that might jumpstart the moribund...