Italy, Germany and the Crisis in Europe.
No organisation can work effectively without a discipline in use that is appropriate and respected. In other notes I have pointed up Itay’s ludicrous claims to grow at 2% p.a.. This beautiful nation is split between the Haves in the North and the abject poverty of the South. Rome is a mess. Italy’s government is laughingly split between extreme right and left wing members in an anarchic coalition happily flouting E.U. attempts at fiscal discipline.
But the party is nearly over.
Last week Italy slashed its 2019 economic forecast to a mere 0.1%, and it does not have the capacity to deliver that! But the recession is starting. Germany too has cut its epectations from 2% to 0.8%.
Italy will be the first card to fall, even Germany may not be far behind. Spain goes to the polls at the end of April amid increasing dismay at rural poverty, and in France the yellow jerseys have not been placated. Whatever you do, do not listen to the siren voices marketing stocks in Europe.
Have a good day. James