Italy is the only country, alongside with Greece, that is poorer now than before having the EURO as their official currency. In fact, their economy has been stagnated for two decades and they are one of the biggest indebted economies, with a debt bigger than 130% of their GDP. Many European pundits call this country “the sick man in Europe”.
Nevertheless, 20 years ago, Italy was one of the wealthiest economies on the planet. Their citizens were even richer than those from Great Britain and their industry was the second biggest in all across Europe. The entire world enjoyed the music of Eros Ramazzotti or Luciano Pavarotti, the Spaguetti Western movies and… well, the Rocco Siffredi movies too. Now those days are gone.
This is why many Italian politicians suggest that leaving the Euro would be a solution to get back to the golden years of the Italian economy. But is it right? Is the Euro the problem in Italy? Why are they in such a big crisis? And why did Italy become so rich in the 80s and the 90s, despite the corruption, the red tape and the political unrest? In this video we will answer all of those questions.
And don’t forget to visit our friend’s podcast, Reconsider Media:
Other videos from VisualPolitik:
Why is GERMANY such an INDUSTRIAL model?: https://www.youtube.com/watch?v=CAbcHMOwobg&t=7s
Why is GERMANY growing more than JAPAN?: https://www.youtube.com/watch?v=vou96yLuWXw&t=25s
Can MACRON save FRANCE from its CRISIS?: https://www.youtube.com/watch?v=jskeZMDsDhM&t=397s
Italian shadow economy:
The Italian Lira, the Exchange rate and employment:
How mittlestand model could boost Italian SMEs:
Italian red tape:
Italy needs to get rid of red tape:
Bushwick Tarantella is made by Kevin MacLeod and it us under a Creative Commons Attribution (http://ift.tt/1bFo3O7)