“But we aren’t talking per capita, are we?
I certainly was.
“When Italy wants to cut its government spending in order to stand on its own two feet, so to speak, get back to me.”
That is not the path out of this.
“But I won’t hold my breath while I wait. In the meantime, the EU has Italy by Italy’s short hairs. And Italy has only itself to blame.”
The EU is the one being held. It you owe a bank thousands, it is your problem, if you owe a bank billions, it’s the bank’s problem.
They know if Italy defaults, it will be tragic for the EU. To Italy, it will be freedom. In fact, leaving the euro, printing it’s own currency, and likely default, is the only way out.
I think it is Italy that has Merckle by the short hairs.
Yep.
In addition it’s the EU trying to lean on Italy to accept Muslim hordes it does not want.