Economics
Euro-Area's Problem Child Lags As Renzi Chases Italy Growth
- Bank, sovereign debt weigh on euro area's 3rd-largest economy
- Italy's GDP remains 8% below its pre-crisis level of 2007
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Try as he might, Matteo Renzi just can’t push Italy’s economy into the euro area’s premier league.
Progress in the currency bloc’s third-largest economy has been hobbled by dizzyingly high levels of debt for the government and mountains of bad loans that burden the country’s largest banks and weigh on their stocks’ performance.