Register to receive our free weekly newsletter including editorials.
To add to the world's problems, high inflation is exposing Europe's frailties and poorer nations have no independent monetary policies to help their economies. Core problems cannot always be kicked down the road.
Italy is so weak economically, financially and politically that it poses an existential threat to the eurozone. Solutions to appease the crisis face political hurdles and a euro exit is possible.
No sooner have global markets digested the Brexit decision and the election of Donald Trump as US President, another risk event now looms on the horizon: Italy’s constitutional referendum on December 4.