Italy Admits It Can't Balance the Budget in a Recession

That's not all bad
Photograph by Gali Tibbon/AFP/Getty Images

Italy’s prime minister has abandoned his bel sogno—his beautiful dream—that Italy can balance its budget during a deepening recession. To some strategists, that’s alarming. To others, it’s an overdue acknowledgement that could actually pave the way for a more sensible policy that gets Italy back on the path to healthy economic growth.

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