“A crisis of capitalism” is an article taken from “the Guardian” an English newspaper.
The writer Riccardo Bellofiore take Italy like example for the actual crisis.According to the author the limits of Eurozone are a central bank that doesn’t act as lender of last resort or finance government borrowing, and no significant European public budget.
The economist says that European crisis is not a home-grown one and also Italian crisis is not Italian-born. Germany doesn’t help with this: the neo-German-mercantilism induced stagnation in Europe.
The most important problem is the inefficiency of European leaders in rescuing-indebted countries and the introduction of self-defeating austerity programmes.
The structural deficit is another cause of the European crisis. According to the author this time Italy can’t leaving the euro because in that case mean the end of monetary union, and a dramatic broadening of the European and world crisis