| Popis: |
This study describes the long path that allowed Italy to give up the traditional policy of high wages-high inflation-devaluation of the national currency (the Lira) and accept a stability oriented policy inspired by the Bundesbank, till the final outcome of taking part in the euro launch in 1999. The central topic of the paper addresses the positive and negative consequences of the adhesion to the eurozone, stressing the widening gaps with the core countries economic conditions and the costs of the double dip recession which Italy suffered in the period 2008–2013. The analysis examines the difficulties experienced by the different Italian governments in producing the necessary reforms required by the euro zone membership. The study also examines the present day challenges facing the Italian economy, where a long required process of fiscal consolidation in a possible deflationary framework will hamper the reduction of the huge public debt, whose weight is second only to the Greek one. Introduction and conclusions stress the main goals and results of the study. |
