Saturday 19 August 2017

David McWilliams: 'It is almost certain that there will be another euro crisis in 2017'

Cartoonist: Ken Lee
Cartoonist: Ken Lee
David McWilliams

David McWilliams

It is almost certain that there will be another euro crisis in 2017. The last time we had a euro crisis, the focus of attention was Greece; today the vortex is Italy.

Italy is not Greece. Italy is the third-largest economy in the eurozone. Italy is the second-largest manufacturing nation in the EU after Germany. Italy is the largest debtor in Europe. The third-largest Italian bank is irredeemably bankrupt. Italy has no government and the people who are likely to win the next election want to take Italy out of the euro and replace the euro with their own currency, the lira.

These are the facts.

Please sign in or register with Independent.ie for free access to Opinions.

Sign In

Don't Miss