Italy and the Completion of the Euro Area

Författare: Jones Erik

Italy was selected to join the euro among the first group of EU member states. The country’s experience of the single currency is however mixed, which has led to a sceptical attitude towards the euro reforms proposed.

Italians feel ambivalence toward the role of European institutions in structuring euro policies. They are therefore unlikely to support reforms that emphasize strict conditionality or fiscal discipline.

At the same time, the outcome of the elections on 4 March 2018 looks to result in a hung parliament or a broad, technical coalition government. Such an outcome would hamper Italian politicians' ability to assert themselves at the European level.

This analysis demonstrates nevertheless the importance of paying closer attention to what Italians have to say about euro reforms. The point is more specifically to understand the Italian perspective on the sovereign debt crisis.