Europe’s ‘ticking time bomb’: Italy could DESTROY Eurozone as M5S soars in polls
ITALY’S growing debt crisis risks being a “ticking time bomb” that could tear the Eurozone apart, a political expert has said.
By TOM PARFITT
Express.co.uk
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 Express.co.uk: “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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