Close on the heels of my posting on the review by J.W. Mason of Varoufakis’ book, I thought it would make sense to post on the Italy election results which saw both the ‘Five Star’ party and ‘Northern League’ perform far better than expected. It is a bad result. Italy is an important part of Eurozone. Germany finally has a Chancellor but the coalition is fragile. Spain has not really settled the Catalonia issue. Markets are fixated on Trump tariffs and hence pushed the EURUSD higher. That sounds silly, to me.
Ferdinando Giugliano has a good piece in Bloomberg Views. That should be accessible to all.
This line struck a chord:
they have sold the electorate a future made up of free money.
Well, ambitious politicians; desperate promises and desperate hopes – not just the prerogative of developing countries.