New York – “The Italian problem is a European problem” This is what the Wall Street Journal points out in an editorial in which Simon Nixon wonders if the single currency “will survive in its Italian or German meaning.” The editorial focuses on whether it will be “a strong currency underpinned by credible rules “or “a weak currency, underpinned by regular devaluations and inflation to restore competitiveness.” The WSJ points out that even though Prime Minister Matteo Renzi may have “reached an agreement to reform the political system, there is little sign of far-reaching changes in the labor market and productive sectors.” (9Colonne)
