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How will the Italian crisis affect the EU.


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Old 07-12-2016, 20:34
Tanky
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...in other words, it's not that different from RBS and Lloyds over here thus the Italian calamity some were actively wishing for will not happen.
However, they'll be owing the EU, and austerity measures will be worst than Greece. Prepare for Italian riots and people being disenfranchised with the EU.

What are the chances of Italy ever being able to pay back the 15bn? I wonder if there'll be continual bailing out Italy like Greece?
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Old 07-12-2016, 20:40
TelevisionUser
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However, they'll be owing the EU, and austerity measures will be worst than Greece. Prepare for Italian riots and people being disenfranchised with the EU.

What are the chances of Italy ever being able to pay back the 15bn? I wonder if there'll be continual bailing out Italy like Greece?
If you want real debt, take a look at this figure - £1.8 trillion. That is the UK's national debt figure and Italy's £12.7 billion figure is insignificant in comparison.
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Old 07-12-2016, 20:44
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However, they'll be owing the EU, and austerity measures will be worst than Greece. Prepare for Italian riots and people being disenfranchised with the EU.

What are the chances of Italy ever being able to pay back the 15bn? I wonder if there'll be continual bailing out Italy like Greece?
Italy has been a bit of a basket case economy for decades and the public know full well that their own chaotic political system is largely to blame. They don't really have an Italian version of the Daily Express and the Daily Mail telling them (lying in other words) that the EU are to blame for all their problems.
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Old 07-12-2016, 20:45
Tanky
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If you want real debt, take a look at this figure - £1.8 trillion. That is the UK's national debt figure and Italy's £12.7 billion figure is insignificant in comparison.
Have you looked up Italy's national debt figure?
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Old 07-12-2016, 20:47
Tanky
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Italy has been a bit of a basket case economy for decades and the public know full well that their own chaotic political system is largely to blame. They don't really have an Italian version of the Daily Express and the Daily Mail telling them (lying in other words) that the EU are to blame for all their problems.
However they will have to pay back the EU this time around, and the EU is very strict with governments implementing austerity measures to pay them back. The every day Italians, will be blaming the EU, as the new government will be pinning the blame of austerity on EU measures, that they are forced to do.
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Old 07-12-2016, 20:51
TelevisionUser
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Have you looked up Italy's national debt figure?
You seem to be one of those who seems to want Italy's economy and political system to crash and burn. It won't happen so get over it and find something more constructive to do with your time.
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Old 07-12-2016, 20:53
Eurostar
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However they will have to pay back the EU this time around, and the EU is very strict with governments implementing austerity measures to pay them back. The every day Italians, will be blaming the EU, as the new government will be pinning the blame of austerity on EU measures, that they are forced to do.
For sure, but the public know full well that many of the country's problems stem from inefficiencies and mismanagement of their own economy. There might be anger at austerity measures by the EU but they would never fall into the trap of thinking the EU were to blame for all of their problems : they had around 60 changes of government and Prime Minister even before they joined the Eurozone.
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Old 07-12-2016, 20:55
johnny_boi_UK
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If you want real debt, take a look at this figure - £1.8 trillion. That is the UK's national debt figure and Italy's £12.7 billion figure is insignificant in comparison.
http://www.tradingeconomics.com/ital...nt-debt-to-gdp

its around 2.3 trillion euros, alot of that debt however is from greece and spain

off topic - japan though...
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Old 07-12-2016, 20:57
johnny_boi_UK
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For sure, but the public know full well that many of the country's problems stem from inefficiencies and mismanagement of their own economy. There might be anger at austerity measures by the EU but they would never fall into the trap of thinking the EU were to blame for all of their problems : they had around 60 changes of government and Prime Minister even before they joined the Eurozone.
tbf Italy is rife with corruption within the public sector
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Old 07-12-2016, 21:06
Tanky
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You seem to be one of those who seems to want Italy's economy and political system to crash and burn. It won't happen so get over it and find something more constructive to do with your time.
That's not what I want, I'm only stating the obvious. Whether they crash or not, is their own doing.

It's clear that them being bailed out, it'll cause great financial problems for the EU. The Italian economy could very well end up exactly like Greece. The EU hasn't had a good record, when lending money and demanding it back, which all but bankrupted Greece. There will be many problems if Italy turns into Greece, as austerity will only further damage their economy, and businesses will be closing left and right. Italy already has major problems with Italians sending their money abroad, whilst evading taxes, and that'll increase with austerity.

The EU needs to relax their measures on getting their money back from Italy, however I doubt it. The EU are too inflexible and will be going with the stern approach.
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Old 07-12-2016, 21:58
mRebel
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http://www.tradingeconomics.com/ital...nt-debt-to-gdp

its around 2.3 trillion euros, alot of that debt however is from greece and spain

off topic - japan though...
132.70% of GDP, for the UK 89.20. Though we are worse off than Venezuela and Zimbabwe!
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Old 07-12-2016, 21:59
johnny_boi_UK
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132.70% of GDP, for the UK 89.20. Though we are worse off than Venezuela and Zimbabwe!
it doesnt paint the whole picture though.

italy has (or atleast had) very low consumer debt unlike the uk.
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Old 07-12-2016, 22:00
mRebel
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You seem to be one of those who seems to want Italy's economy and political system to crash and burn. It won't happen so get over it and find something more constructive to do with your time.
Nobody wishes Italy any harm. If you want to be constructive with your time take note of the political changes happening in the EU.
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Old 07-12-2016, 22:16
outof thepark
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That's not what I want, I'm only stating the obvious. Whether they crash or not, is their own doing.

It's clear that them being bailed out, it'll cause great financial problems for the EU. The Italian economy could very well end up exactly like Greece. The EU hasn't had a good record, when lending money and demanding it back, which all but bankrupted Greece. There will be many problems if Italy turns into Greece, as austerity will only further damage their economy, and businesses will be closing left and right. Italy already has major problems with Italians sending their money abroad, whilst evading taxes, and that'll increase with austerity.

The EU needs to relax their measures on getting their money back from Italy, however I doubt it. The EU are too inflexible and will be going with the stern approach.
Greece and Italy may be very simular in your eyes, but they do have two very different economies.
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Old 07-12-2016, 22:20
rusty123
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It is hardly a crisis as things are exactly as they were before the referendum on the constitution and all it really means is things will stagger on as before.
There's talk of the Italians now possibly having a referendum on the single currency. I've no idea what the knock on effect of that could be should they drop it but business as usual? I'm not sure it could be.

Interesting times lie ahead.
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Old 07-12-2016, 22:50
johnny_boi_UK
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There's talk of the Italians now possibly having a referendum on the single currency. I've no idea what the knock on effect of that could be should they drop it but business as usual? I'm not sure it could be.

Interesting times lie ahead.
Would actually be very bad for italy, they have have alot of money in savings accounts.
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Old 08-12-2016, 01:59
james_lndsay
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If you want real debt, take a look at this figure - £1.8 trillion. That is the UK's national debt figure and Italy's £12.7 billion figure is insignificant in comparison.
The current national debt of Italy is €2,313,064,396,562 or 2.3 trillion euros and rising, its currently debt ratio is an eye watering 140% of GDP whereas the uk GDP to debt ratio is around 86%, of course the uk has nothing to gloat about but Italy is a far greater risk of being overwhelmed by its debts than us.

There is not enough ECB money to bail out this pretty yet spend like crazy Pig we call Italy.
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Old 08-12-2016, 02:03
james_lndsay
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Would actually be very bad for italy, they have have alot of money in savings accounts.
I sense a bail in real soon, unlike the Cypriots who just moaned about the theft of billions of euros from their collective accounts the Italians will riot and the country will become ungovernable within a sort space of time, now if a bail in happens at any Italian bank and the mafia are hit hard I expect bankers and politicians to be paid back by some form of retribution.
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