Op-Ed: If Brexiteers need a real reason to leave the EU, then just look at Italy

by 9:00 AM 0 comments
And as for the state itself, has it taken the European Central Bank`s (ECB) promise of "doing whatever it takes" to scythe through its horrific debt pile? Has it heck! Italian debt is still at a ratio of 133 percent to the value of the country`s GDP (gross domestic product) and as the Institute for International Finance put it last week "they are still vulnerable to shifts in market sentiment, and the possibility of a negative spiral of rising refinancing costs and deteriorating debt sustainability assessments (e.
from credit rating agencies) remains a real threat.
" So all you Brexiteers can have this one from me free of charge.
If you want a real reason to fear the EU and its sub-clique the euro zone, stop bleating on about Brussels illegitimacy and how hordes of European diasporas are apparently ruining our country and take a look at the fact that there are one or two economies in Europe that just may be in a worse position than "good old Blighty" and that may just scupper the European project with or without the British.
—Steve Sedgwick is an anchor for CNBC`s Squawk Box Europe.
For more insight from CNBC contributors, follow @CNBCopinion on Twitter.

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