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Originally Posted by Chris
The first fracture in the Euro might be in Italy ... Several senior parliamentarians are now loudly proclaiming that the country could do perfectly well thank you very much if they reintroduced the Lira and indulged in a little competitive devaluation, and are suggesting they might push for this if Mario Monti, the Euro-Quisling currently occupying the prime minister's office in Rome, is not able to extract concessions from Angela Merkel this week.
The mood music coming from the Germans, however, is not sounding good. They seem determined to stick to their guns (no debt mutualisation without fiscal union).
http://www.telegraph.co.uk/finance/f...t-at-home.html |
Wonder how much of this is a result of the talks with Hollande in Rome last week? Could we be seeing the start of a French/Italian alliance ganging up on the Germans?