An Honest Monti Just Might Save Italy
Ferdinando Giugliano, Financial Times | July 23, 2012
The tale spun by Monti is one in which Italy secured the right to use eurozone rescue funds without any additional conditions. ++ As the country approaches an investment crisis and it becomes more likely that Rome will have to tap into these funds, it should expect the creditor countries to demand more supervision. ++ There are costs to closer integration and to avoid failure, Monti should explain them to his constituents. ++ Otherwise, he stands to lose Italy's europhilic support and his beloved integration project will backfire domestically.
