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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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.