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All About the Italian Economic Crisis of 2018

Shobhit Seth

The eurozone’s third-largest nation has plunged into deep political and economic crisis, which has become a concern for the European Union (EU) as well as for the global markets. At the end of Sept. 2018, the ruling coalition comprising the Five Star Movement and the Lega Nord announced their 2019 budget, which increases deficit spending to 2.4 percent of the GDP. The move has upset Italy's euro zone partners, who had been pressuring Italy to decrease its debt.