Why the Italian crisis won’t see Italy leave the euro just yet

Note: This post was first published on Patreon on 31 May 2018

Italy's not going anywhere. And that's because the eurosceptic parties trying to form a government from a majority in the last general election don't have a mandate to leave the euro. They won't get one anytime soon either. That's the headline here. Here are the details.

Now, I think this crisis has legs. But, for now, the panic has subsided. And that's because markets are beginning to realize that reasonable worst case scenarios don't involve an Italian exit from the euro. Polls have consistently shown that Italians, despite their support for eurosceptic parties, don't want to give up the euro. They just want more control, more sovereignty.

Look at the latest polls. They show 60 to 72% of Italians in favour of remaining in t...

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