We’ve been saying it for a long time: Italy’s economy is one of the most resilient ones in the EU. It may not have the best performance but it has high robustness. Performance is one thing, robustness and sustainability are another.
Today, it is the EU Commission to confirm that in the long run, Italy has the best Sustainability Index (see above figure ) – see the EU Commission’s Fiscal Sustainability Report 2012 from which the above graph is taken.
This seems paradoxical, to say the least. Italy, a G8 economy, with a manufacturing industry that is second only to that of Germany, has been bombarded by rating agencies, attacked by speculators and often indicted as the weakest link of the Eurozone.Why?