German Economist Warns Italy Faces Eurozone Exit As Coronavirus Crisis Deepens
Tue, 05/19/2020 – 21:23
Italy, whose already week economy has been crippled by the coronavirus pandemic, should seek help from its own wealthy citizens, rather than relying on Germany and other EU countries, to bail it out as it struggles to bounce back from the coronavirus pandemic, former German MEP and economist, Hans-Olaf Henkel, has warned.
According to The Express, the German suggested that the best solution would be for Italy to leave the eurozone and go back to their own currency, which he dubbed the “new lira”. Henkel was speaking against the backdrop of widening splits between the north and the south of the bloc, and particularly Germany and Italy, on how best to mitigate the economic and societal impacts of the virus.
The divide between the rich north EU states and poor Greece and Italy has sparked calls for dumping the EU from Italy and Greece. Now we have the rich Northern states looking to dump Greece and Italy before they have to bail out their southern neighbors. Looks like the EU problems are going to end in chaos.