When it comes to the euro zone, most eyes are fixed on Spain and Greece where a debt deflationary death spiral has begun. But the economic situation remains fragile in other countries of the so-called periphery. Italy is the largest peripheral country and deserves a lot more attention given its political and economic weight within the European Union.
According to the Wall Street Journal, the Italian government lowered its projections for the Italian economy saying GDP would shrink 2.4% this year and another 0.2% in 2013. The government had been projecting 0.5% growth for 2013. They also said this "slightly negative" figure shouldn't overshadow the improving trend, because the government the Italian economy to expand on a quarterly basis starting in 2013. I'm not sure where these numbers a...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.