wow, sane ItalianIf Italy goes back to our old currency will become a new Argentina, the euro was really good for us; joining made us save billions and billions of interests on our huge debt, and the euro saved our a*s at least two times.
If southern Europe and Italy, in particular, have economic problems, it's the politicians' fault, not the euro, as I said; it's actually the contrary.
Greece falsified public accounts after they waste billions on ridiculous pensions; if they weren't in the euro, it would have been much, much worse.
But I partially agree we, Italians, don't deserve the privilege to use the euro, at least as long as we keep throwing public money out of the windows or making debts to gift privileged people.
So as the great Mario Draghi said, the euro is irreversible, and Italy is the last country that can afford to leave the single currency; it would mean an immediate economic collapse, much worse than Greece.
Of course, I am ahaha that's why I am interested in leaving this hell as soon as possible.wow, sane Italiangood for you
If Italy goes back to the Lira, then it might go back to old Italy -- which was quite good. The numbers do not lie. Perhaps you are too young to remember -- or perhaps you have not looked at the data.If Italy goes back to our old currency will become a new Argentina, the euro was really good for us
Until the early 1990s, Italy enjoyed decades of relatively robust economic growth, during which it managed to catch up with other Eurozone nations in income (per person) (Figure 1). In 1960, Italy’s per capita GDP (at constant 2010 prices) was 85% of French per capita GDP and 74% of (weighted average) per capita GDP in Belgium, France, Germany and the Netherlands (the Euro-4 economies). By the mid-1990s, Italy had almost caught up with France (Italian GDP per person equaled 97% of French per capita income) and also with the Euro-4 (Italian GDP per capita was 94% of per capita GDP in the Euro-4).
https://www.ineteconomics.org/perspectives/blog/how-to-ruin-a-country-in-three-decadesIt is not a coincidence that the sudden reversal of Italy’s economic fortunes occurred after Italy’s adoption of the “legal and policy superstructure” imposed by the Maastricht Treaty of 1992, which cleared the road for the establishment of the EMU in 1999 and the introduction of the common currency in 2002.
ahhaahahah old Italy was good?? I am Italian. I know EVERYTHING about my economy and political history; trust me, you don't know ANY idea of what you are talking about, absolutely zero.If Italy goes back to the Lira, then it might go back to old Italy -- which was quite good. The numbers do not lie. Perhaps you are too young to remember -- or perhaps you have not looked at the data.
https://www.ineteconomics.org/perspectives/blog/how-to-ruin-a-country-in-three-decades
You sent me a bunch of fake news and garbage, our politicians created our own disaster, and Italy is the only country in the EU that didn't growth in two decades!If Italy goes back to the Lira, then it might go back to old Italy -- which was quite good. The numbers do not lie. Perhaps you are too young to remember -- or perhaps you have not looked at the data.
https://www.ineteconomics.org/perspectives/blog/how-to-ruin-a-country-in-three-decades
This comment shows your complete and total ignorance. Greece is once again at the precipice.Why did everyone else improves and benefit from the Euro but we didn't?
https://www.express.co.uk/news/poli...n-Greece-italy-debt-levels-bankruptcy-warningThe worrying figure has alerted experts, warning another collapse of the Greek economy could bring the whole eurozone down.
Basic monetary theory says that when an economy is in a depression as severe as the one in Greece, the solution is aggressive monetary stimulus. So if you wanted to help Greece, you'd want to start printing more money in an effort to lower interest rates, boost demand, and bring down the country's unemployment rate.
On the other hand, if you were just focusing on the German economy, you'd reach the opposite conclusion. Germany's economy is already booming. The economy can't grow much faster than it already is. So more monetary stimulus will just produce inflation. You might even want to cut back to prevent the German economy from overheating.
https://www.vox.com/2015/6/30/8868973/euro-greece-crisis-mistakeThe problem is that the ECB is responsible for both Greece and Germany — and 17 other countries as well. The right policy for Greece will be a disaster for Germany, and vice versa. Any policy the ECB picks will be either too tight for some European countries or too loose for others.
In theory this is very correct.If Italy goes back to our old currency will become a new Argentina, the euro was really good for us; joining made us save billions and billions of interests on our huge debt, and the euro saved our a*s at least two times.
If southern Europe and Italy, in particular, have economic problems, it's the politicians' fault, not the euro, as I said; it's actually the contrary.
Greece falsified public accounts after they waste billions on ridiculous pensions; if they weren't in the euro, it would have been much, much worse.
But I partially agree we, Italians, don't deserve the privilege to use the euro, at least as long as we keep throwing public money out of the windows or making debts to gift privileged people.
So as the great Mario Draghi said, the euro is irreversible, and Italy is the last country that can afford to leave the single currency; it would mean an immediate economic collapse, much worse than Greece.
You don't know what you are talking about as well; what do you suggest would kill the salaries and purchasing power of families, we import basically everything, like energy, etc...In theory this is very correct.
But the day to day realistic life looks different and we have 20 years proof of this.
Italy needs a weak currency which can be devalued (inflated). This makes their export highly competitive as its price would be not much above Southeast asian exports (which have 0 brand value) and the tourism sector would boom since its cheap for usd/euro holders.
It would have much much better economic activity.
When I travel to Italy today, I see shops and friends closing left and right which makes my heart bleed. The internal devaluation due to too strong euro (and too weak euro for Germany) crashes the economy.
The euro is only good for Italian pensioners and fixed income holders but it completely crashes the youth which are emigrating.
The euro is a complete fail, too strong for the euro south and too weak for the euro north. A corset which fits no one.
The Euro has a bad design due to its debt markets which is different from the USA. Their debt markets are not impacted by internal capital flows from weak to strong states.You don't know what you are talking about as well; what do you suggest would kill the salaries and purchasing power of families, we import basically everything, like energy, etc...
The Euro is not a failure; the southern economies are, especially Italy.
The Euro is not the reason some economies have problems in Europe.
What did you think before writing these jokes? The euro too weak for Germany? Based on your logic, it should be ok since Germany exports a lot as well Ahah.
After this message, I will not answer to any of this nonsense, you are all repeating garbage and propaganda, and most importantly, you are suggesting stupid and simplistic solutions (fantasies) that would literally cause an economic disaster as it happens periodically in any south America failed state!
You seriously need some economic classes., all your arguments are not only based on really wrong and debunked economic principles but even worse based on a mentality where you always see an external factor to blame in a failure.
For example:
The economy of Italy is bad not because our politicians keep increasing the debt to throw money out of the window, and because they don't want to do structural reforms to increase productivity (THE ONLY WAY AN ECONOMY CAN GROWTH AND PROSPER) but it's obviously fault of the Euro or the EU right?? ahahah
Same thing with Greece, they didn't fail because they weren't able to manage public money or because they wasted resources to gift the voters, but also there it was fault of the Euro, the EU, Germany and Mario Draghi right? ahahah hilarious.
When you can't repay the debt you did with your bank because you spent that money on hookers will you tell them that it is fault of the euro? what economic fantasies would you use to justify your inefficiency?
Unbelievable, you showed again and even more your ignorance who doesn't have any idea of what he is talking about; I think you are the one who should study instead of repeating garbage...The Euro has a bad design due to its debt markets which is different from the USA. Their debt markets are not impacted by internal capital flows from weak to strong states.
The interest rate is too low for Italy (borrow too much) and too high (borrow too low) for Germany, adversely affecting each of these in their own way.
Don't be so angry mr. internet hero economist. Come out of your moms basement and learn about currency baskets of heterogeneous economies.
And even more important don't talk about Italy if you don't have any knowledge of our country's economy and history, first of all, if you see that some of your friends are closing their business is a subjective observation, nothing to do with economic studies or statistics, maybe your friends are going out of business because they aren't that good...The Euro has a bad design due to its debt markets which is different from the USA. Their debt markets are not impacted by internal capital flows from weak to strong states.
The interest rate is too low for Italy (borrow too much) and too high (borrow too low) for Germany, adversely affecting each of these in their own way.
Don't be so angry mr. internet hero economist. Come out of your moms basement and learn about currency baskets of heterogeneous economies.
You are right sorry, but this guy can't keep up with the debate, because he doesn't know anything about economy or even worse about the Italian economic situation and history, so he tries to offend me by telling me that I live in my mom's basementOk guys keep it civil please.
Well, it was clear who started it and I took my right to fight backOk guys keep it civil please.
Clicking the ignore button is a far better way.
which ignore button? is this a premium feature?Yup thats exactly what I did in past.
which ignore button? is this a premium feature?
What is a mouse?No. Hoover your mouse over name of person you want to ignore and ignore button will appear.
except youNo. Hoover your mouse over name of person you want to ignore and ignore button will appear.
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