Italy’s Renzi must bring back the lira to end depression – Telegraph

European flag outside the Commission

European flag outside the Commission (Photo credit: Wikipedia)

This is an important read from Ambrose Evans-Pritchard  in the Telegraph. Check it out!

via Italy’s Renzi must bring back the lira to end depression – Telegraph.

Personally, I am still not convinced that Italy needs to break from the Euro.

For me, the solution is clear. The troika of the IMF, the ECB and the European Commission need to get real and focus on investment rather than austerity. Further, Angela Merkel’s government need to support Keynesian stimulus in Southern Europe.

The alternative of breakaway from the Euro offers catastrophic risks for the whole of the EU.

Thoughts?