Author Description

This is the first book proposing an analysis of the Eurozone crisis and the Italian case. A defining feature of the Eurozone crisis has been the emergence of a deep divide between the 'North' and the 'South.' At first sight, Italy may seem to belong in the second group. This book offers a more complex reading, showing how Italy is today an 'oddity' in the Eurozone, on several counts. First, Italy stands out in terms of its lackluster economic performance. Second, and related, Italy has progressively become a political basket case within the Eurozone. Third, Italy occupies an idiosyncratic place in the ideological debate about solutions, in particular regarding how the Eurozone macroeconomic governance should be reformed. A more honest account would acknowledge that Italy has become an economic and political idiosyncrasy--not only vis-à-vis the North, but also vis-à-vis the South. Italy today is a case of missed adjustment within a newly established macroeconomic regime. Absent an acknowledgement of this and a corresponding reaction, Italy's position in Europe will be one of increasing isolation.