austerity

Euro disaster: Basket-case Italy faces decade of austerity just to get back to 2007 levels

ITALY'S economy is around halfway through a lost two decades, following a slow and painful recovery from the financial crisis that still has a long way to go, according to alarming analysis by the International Monetary Fund (IMF). Amid a surge in refugees, market turmoil and a slowdown in global trade, the Mediterranean...