3 ms·
why isn't the author pointing fingers at the EU? Italy cannot control its own currency so it's at the behest of the ECB when it comes to supporting banks, citi
by maximente 7y ago
why isn't the author pointing fingers at the EU?
Italy cannot control its own currency so it's at the behest of the ECB when it comes to supporting banks, citizen bail outs, etc. the ECB is still in "monitoring mode", whatever that means. also recall Italy has been in various austerity-like periods for some time now. is Brussels sending in staff and building emergency facilities to help out its struggling member?
so what gives? is the ECB going to backstop Italian banks/businesses? directly inject capital a la what the US Federal Reserve ostensibly could (will) do? how about other member nations e.g. Germany?