A Bitter, But Curative Pill

The pending Greece exit (Grexit)from the European Union will shortly (in political terms) be followed by the Poexit (Portugese exit),mthe ((Itexit) Italian exit and the Brexit (British exit).
All for different reasons. The British and the Italians for immigration reasons, and Portugal and Italy for the same economic reasons as Greece.
Italy gets a double whammy, debt and immigration.

Now it is possible that Britain, because it has a huge economy, may be able to get concessions from the EU to stem the immigration flood (they have huge debt, but do not share the Euro currency…one smart thing they did), and if it does Italy may benefit, since it is the primary landing place of immigrants from Africa. Italy has already negotiated an 80,000 refugee relocation north.

The two remaining nations with huge debt problems, after Greece, are Italy and Portugal.

It isn’t going to get better, until it first gets worse.  

No one likes austerity but the Irish swallowed hard, accepted their medicine, and, after six years of austerity, emerged stronger.

It is a bitter pill, but it cures.

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