Inflation, high interest rates, national debt: the financial crisis is coming back and Europe is not prepared for it. How serious is the situation?
essay by
Marc Beise
Mario Monti is an old driver in the European trade. The 79-year-old was Italy’s Prime Minister (from 2011 to 2013), before that he was EU Commissioner in key positions: first for the internal market, then for competition. He is a Roman senator for life and has been showered with awards, he has just come from Glasgow. On Thursday of this week he sat, in an impeccable business suit, in the peaceful atmosphere of the Catholic Academy in Bavaria, near the English Garden in Munich. A glorious summer’s day, the sun is burning outside, life in Schwabing is relaxed.