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Vincolo esterno or Muddling Through? Italy

  • Cecilia Emma SottilottaEmail author
Chapter

Abstract

This chapter aims at providing a theoretically informed appraisal of the politics of the Eurozone crisis reforms in Italy, with special attention to the preferences of the main political actors vis-à-vis the constraints they faced. Italy is an interesting case study not only because it is the largest ‘southern’ economy and one of the six founding members of the European Communities, but also because in the context of the crisis, and unlike other southern member states, it managed to avoid a formal bailout procedure. Novel data collected in the framework of the EMU Choices Horizon 2020 project as well as the analysis of official documents lend support to the thesis that rather than following a vincolo esterno logic, Italy’s stances were essentially dictated by the short-term imperative to reassure financial markets and avoid a direct intervention of the Troika.

Keywords

Italy Eurozone crisis Fiscal Compact Six Pack Vincolo esterno 

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© The Author(s) 2020

Authors and Affiliations

  1. 1.The American University of RomeRomeItaly

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