It’s Frankfurt that should be your worry – not Rome
This week investors have been spooked by the election outcome in Italy, but frankly speaking is there anything new in that shady characters are doing well in an Italian election? Is there anything new in a hung parliament in Italy? Nope, judging from post-WWII Italian political history this is completely normal. Ok, Italian public finances […]
Is a monetary union without fiscal/political union doomed?
This seems to be a very common view at the moment. The view that the Eurozone will have to move to fiscal union, which implies some form of political union, comes from two directions. 1) Those working in the political unions that are the United States or the United Kingdom, know combined monetary and fiscal […]