Italy’s teetering banks will be Europe’s next crisis

Re:Italy’s teetering banks will be Europe’s next crisis by davidw on Monday July 11, 2016 @11:49AM (#12071861)

That points to an underlying political problem: the government is unable to deal with pensions directly, and can only cut them by the somewhat underhanded means of inflating/devaluating them away.

There's no political will or consensus to change some of what's wrong in Italy. To be fair, though, it's not easy anywhere, but Italy seems particularly stuck.

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Re:Italy’s teetering banks will be Europe’s next crisis by danmaz74 on Tuesday July 12, 2016 @02:22AM (#12077097)

I see your point David, but directly cutting pensions (not just the rich pensions, which outrage so many people but in aggregate are little more than a drop in the ocean) is something that would be political suicide for anybody, and I guess not just in Italy.

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