Italy's Terrible Finances Could Cause Crisis

[Economy 52,861]

https://www.cnbc.com/2019/05/07/italy-spending-plans-projected-to-breach-eu-rules.html

 

Italy continues in very bad shape and goinf from bad to worse

 

Italys debt currently stands at 133% of GDP one of the very highest in the world and is due to reach 135% of GDP in 2020

 

Next years deficit may hit as high as 3.5% of GDP above the maximum of 3% allowed by the European Union

 

High unemployment and economic growth expected at only 0.1% for next year could make matters worse

 

Some fear Italy could be the next Greece... But because Italy is a much larger economy than Greece, if it goes into a full blown out crisis, it will cause way more harm

[Dancin 1,120]

Yup 2020 recession is coming 

[Economy 52,861]

1 minute ago, Dancin said:

Yup 2020 recession is coming 

And instead of USA and Greece starting the crisis this time it can be USA, Italy and China

 

Edit: Japan is a ticking time bomb too tbh but that one is harder to tell when it will go off

[Dancin 1,120]

1 minute ago, Economy said:

And instead of USA and Greece starting the crisis this time it can be USA, Italy and China

 

Edit: Japan is a ticking time bomb too tbh but that one is harder to tell when it will go off

And Argentina will be a factor too at least in SoAm

[Economy 52,861]

Fun side fact. USAs deficit is 5% of GDP by comparison 

 

Of course the debt is still lower and unemployment not as high

[Economy 52,861]

Just now, Dancin said:

And Argentina will be a factor too at least in SoAm

If SA can survive Venezuelas historic collapse of epic proportions that makes the Great Depression look like a walk in the park by comparison I think it can survive a recession in Argentina