Telosaes.it / Primo piano scalac

the collection TWO, our way to
celebrate the tenth anniversary
of our monthly publication
Primo Piano Scala c.

the collection ONE, our way
to celebrate the first five years
of our monthly publication
“Primo Piano Scala c”.

October 2013, Year V, n. 10

Alberto Bagnai

Euro: Winners and Losers

Telos: Most people believe that the villain behind the crisis experienced by Eurozone peripheral countries is their sovereign debt. In your book, “Il Tramonto dell’Euro”, you draw from economic doctrine a completely different pattern of interpretation. Can you explain to our readers why public debt is not the problem?

Alberto Bagnai: The Eurozone crisis was caused by private and not public debt. This explanation for the crisis - considered heretical here in Italy - is widely accepted in some of the most orthodox Institutions abroad: just read the speech by Vitor Constancio, Vice President of the ECB, delivered in Athens on 23 May 2013 ... more

Editorial

The electric shock produced by the thoughts Prof. Bagnai shares with the readers of Primo Piano Scala c makes any comment redundant. Instead, we should ask ourselves why these ideas and arguments, which in many respects are backed even by representatives of the ECB, make such little headway in Italy. It is all the more urgent to find ... more