Forget About Greece; Italy’s Debt Crisis Will Be Worse

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After the collapse of Greece, Europe is being threatened with yet another financial crisis. This time, from Italy.
The unemployment rate in Italy is a staggering 12.4% as of March 27 – an increase of 4.95% from last year.
Even worse, Italy’s banks hold 40% of all the bad loans within the countries sharing the euro, The New York Times reported on Nov. 20.
In order to fix the problems, the Italian government has sought to spend more money to spur the economy. But the spending will only present a short-term fix to Italy’s debt crisis.

This post was published at Examiner by Casey Wilson ‘ March 30, 2017.