Italy will have Europe’s biggest debt in three years, Scope says

https://www.bloomberg.com/news/articles/2024-05-17/italy-will-have-europe-s-biggest-debt-in-three-years-scope-says?leadSource=reddit_wall

by threafold

24 comments

  1. The article is paywalled, that said I thought we already had that, now that I check, France’s is higher (not by GDP ratio though), but we are really close already.

    Anyway we will soon be forced to correct this and I am 100% sure that I’d be among the people paying the price, not the current government friends and beneficiaries of the various measures that did contribute to the debt (many of which, admittedly, created by previous administrations as well).

    Great…

  2. As a slovenian, I am shocked on many levels:
    1. We are just about to catch italy in gdp per capita. What the hell italians? Our politicians are quite poor, so what d hell?
    2. I still regularly meet italian late teenagers that speak only Italian. What the hell school system?
    3. I still regularly meet Italians that dont know where Slovenia is. What the hell???
    4. Infrastructure south of Bologna is crap.
    5. Demography is crap

    It really pains me to see that once a promise land for many Slovenians went to shit in 25 years. Get a grip, neighbors!

  5. Imagine that? Right wing policies always lead this.

  6. the only way to avoid this is by importing tens of millions of african migrants, placing the gay flag in every town hall building, retconning every positive Italian figure as a brown transgender and spending all of the welfare money in american weapons to send it over to Ukraine.

  7. We’re a lost cause.

    There are two topics italian parties never speak of: tax evasion and illegal work.

    So it’s not a problem of left wing or right wing. Italians ask for lower taxes, but think that the government can just pretend we don’t have that huge debt.

    But to have lower taxes you first need to actually pay the taxes…

    81,5% of the money paid on the Irpef tax (a tax on personal annual income) comes from money withheld by companies (in Italy, companies pay the taxes on wages on behalf of their employees), which means that most of italians that work as freelancers don’t pay taxes… ([source](https://angelomincuzzi.blog.ilsole24ore.com/2024/01/14/tasse-ed-evasione-fiscale-la-rivolta-pacifica-degli-onesti-di-cui-litalia-ha-bisogno/))

    It’s in our DNA, we are the problem.

  9. It`s time to tax Catholic church on it commercial property, It will generate 2.6 billion dollars in taxes anually.

  10. So is it that Italian debt/GDP is increasing or us lowering our ratio to below Italy’s? Can’t tell with the paywall.

  12. In 2011 we almost defaulted for the same reasons Greece did. In the past 13 years, instead of solving those problems, we kept blaming Germany for the whole mess. I don’t see why everybody acts surprised when those same symptoms are starting to show again

  13. The way Finnish government keeps talking about debt, it seems to be Finland by next year and with a clear lead to any other country in the world.

  14. Italy is just an old prostitute at the end of a shitty career.

  16. Thats why we Will never have a Common Economic policy. The southern countries Are simply too irresponible. Thank fucking god for lutherism 

  18. What no way conservative/right wing governments are the best ones there are, they can only do right and never wrong……….

  19. For a little clarification; the goverment bonds are mostly bought by Italian households not international banks or institutions. Bankruption effects Italian savings the most. Same us true for Japsn btw.

  21. The problem is not the debt. The problem is not having any intention to reforming italy in order to resuscitate the economy.

  24. But the MMT people tell me debt makes no difference if you’re a country. So like crack on.

    /s

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