February 25, 2013

Austerity the Big Loser in Italian Election

Paul Krugman, New York Times

AP Photo

Two months ago, when Mario Monti stepped down as Italy's prime minister, The Economist opined that "The coming election campaign will be, above all, a test of the maturity and realism of Italian voters." The mature, realistic action, presumably, would have been to return Mr. Monti -- who was essentially imposed on Italy by its creditors — to office, this time with an actual democratic mandate.

Well, it's not looking good.

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TAGGED: Europe, austerity, Italy, Silvio Berlusconi, Mario Monti, Eurozone

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