Will Italy’s Turmoil Push Europe Back to the Brink?
It would be wrong to assume that Italy’s current political instability will necessarily trigger a major crisis in Europe. But the risks remain acute, and a few key developments could yet cause such a crisis to materialize, jeopardizing the eurozone’s survival.
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LONDON – Former European Central Bank President Mario Draghi’s resignation as Italy’s prime minister has yet again shone a spotlight on the country’s dysfunctional politics and precarious debt position. But what implications do Italy’s problems and Draghi’s downfall have for the eurozone?