The Italian economy has reached a ten-year low point.
With the Italian economy in such disarray, it is no wonder that their parliament has talked of exiting the E.U. Italy is undoubtedly responsible for a lot of their own economic problems. But the Italian economy almost certainly won’t recover by following the example of Greece and staying under E.U. dominance. The media acknowledges that the problem with the Italian economy is going to have implications for Italian politics.
Reuters report, “Poverty in Italy at worst for over a decade in blow for ruling party.”
The number of people living in poverty in Italy climbed to its highest level for more than a decade in 2016 despite a modest economic recovery, data showed on Thursday, in a report that could hurt the ruling Democratic Party (PD).
Those living in “absolute poverty” rose to 4.74 million last year, or 7.9 percent of the population, up from 7.6 percent in 2015 and the highest since current records began in 2005, national statistics bureau ISTAT reported.[…]
Italy emerged from a long recession in 2014, but the report shows that the slow growth posted since then has done little to help the poorest sectors of society.