'#Italy's fiscal problems arise not from recent profligacy - except 2009 (imm post-#GFC), its primary balance (ie excluding interest payments) has been surplus for 2 decades.' The root cause is high debt 4m 1980s & low growth post-1998 #EMU; plus 'cronyism & familyism' @zingales https://t.co/rgeCw31ey2— Satyen Baindur (@Satyen_Baindur) May 6, 2018
.@voxeu @GuntramWolff on #EuroArea's structural weakness & macroeconomic imbalance: priority that #Germany address its low investment, #France its overly high & inefficient government expenditure; & #Italy its low productivity growth & weak institutions. https://t.co/UF0wnhh0ka— Satyen Baindur (@Satyen_Baindur) May 6, 2018
