Oh I know that. Italians are brilliant people and much of what we have today including art, literature (not just technology) we owe it to them. But you must acknowledge economic grievances have consequences on the health of a nation and its populace. Italy is a favourite spring travel destination for me and over the decade I have seen how the people in that place, especially in South, have become poorer, become increasingly pessimistic and in general have turned to nihilism (not all but significant).

Wage is and has been low and the cost of living has been rising rapidly and young people (not all but many) are subscribing to very dangerous ideologies (both left and right). This stifling will only get worse, even in the middle of a tightening cycle, ECB is insisting they have to keep buying Italian bonds to keep them afloat, what signal does that send? Even euro dollar market is taking a hit partly because of the political turmoil in Italy.

There is a huge migrant population that are “ghettoized” so to speak and there doesn’t seem to be a long term plan with them.