Europe’s Fiscal Crisis Revealed: An In-Depth Analysis of Spending, Austerity, and Growth
Italy’s current economic problems are the result of a decades-old web of business-stifling regulation and a sclerotic bureaucracy. Regrettably, special interests’ dominance of Italian politics makes reform and fiscal consolidation extremely difficult. The three Italian prime ministers in office during the five years of the euro crisis failed to enact substantive changes. Matteo Renzi, the current prime minister, faces a steep uphill battle in doing so.