Europe’s ‘ticking time bomb’: Italy could DESTROY Eurozone as M5S soars in polls

Saturday, August 19, 2017
By Paul Martin

ITALY’S growing debt crisis risks being a “ticking time bomb” that could tear the Eurozone apart, a political expert has said.

Sat, Aug 19, 2017

Eurosceptic politicians are poised to reap the benefits of Italy’s financial turmoil, as its debt-to-GDP ratio climbs to among the highest in the world.

Rome has been forced to bail out several high-profile banks this year, including Monte dei Paschi, Popolare di Vicensa and Vento Banca.

The economic upheaval has boosted anti-establishment and centre-right parties ahead of Italy’s general election, set to be held before spring 2018.

Dr Kostas Maronitis, of Leeds Trinity University, said ex-Prime Minister Matteo Renzi angered voters by failing to tackle the growing crisis.

He told “Renzi’s Democratic Party (PD) did not deal with the banking crisis as effectively as was expected.

“The Italian government stepped in to rescue the banks, which was a dubious move considering the rules and regulations of the EU.

“There might now be the danger that Italy is going to be the new ticking time bomb of the Eurozone.”

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