That comment is that of a man pinned down with his back to the wall. He then naturally foresees disaster. Greenspan adds to the consternation of the market by predicting a Greek exit. Italy struggles to hive off its non performing assets which run into billions.
Preliminary estimates indicate that in January consumer prices
fell by 0.6 per cent, and by 0.4 per cent in Italy; this does not just reflect
the drop in energy prices, as even without this component inflation has reached
an unprecedented low of under 0.5 per cent in the euro area.
" Italy is among the countries that are struggling
hardest to make a start on the road to recovery. GDP has been declining almost
without a break for three years and is expected to show no increase in the last
quarter of 2014, mainly owing to the further contraction in investment, which is
more than a quarter below the level of 2007." (Ignazio Visco, Governor of
the Bank of Italy)
The more one sees Europe, the more one feels it is cosmetic management.
Without any risk or responsibility.
No comments:
Post a Comment