Economist Podcasts Basta! The EU challenges Italy’s finances
Jun 6, 2019
Madeline Johan, The Economist's Canada correspondent, delves into pressing topics with insight and wit. She discusses the EU's tough stance on Italy's rising debt and the political fallout at home. The conversation shifts to Canada's changing refugee policies amid an election, highlighting the struggles of asylum seekers. Johan also tackles the issue of presenteeism in workplaces, advocating for a culture that values genuine productivity over mere presence. This mix of economics, politics, and labor issues makes for a compelling listen.
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Italy's Debt Dispute
- The European Commission might sue Italy for violating debt and deficit rules.
- Italy's populist leader, Matteo Salvini, responded angrily, demanding dignity and work rights, not money.
Italy's Debt Burden
- Italy's debt burden, second only to Greece, stands at 130% of its GDP.
- Per capita, this translates to €38,400 in debt and €1,000 in servicing costs annually.
Differing Perspectives on Italy's Finances
- Economists agree that Italy's government needs to control public finances.
- However, Italy's finance ministry blames the worsening economy and believes the deficit will shrink.