Italy passes the blame to avoid homegrown issues

A collapsed bridge in Italy this week that left 39 dead has further widened the cracks in the Italian government. The Eurosceptic League pointed the blame at the EU for restricting maintenance spending, while the Five Star Movement aimed its fire at the motorway operator responsible for the maintaining the bridge. It may be time however, to stop playing the blame game and start with the man in the mirror as Italy’s problems are homegrown.  The government announced a state of emergency over the incident, but one hopes it may persist long after the investigation is over, as Italy’s huge burden of debt and fiscal weakness should really fall under the bracket of an ‘emergency’. Elsewhere, a Chinese delegation has confirmed it will travel to the US later this  month to discuss trade talks, leaving nobody any the wiser in this game of machismo between the two global superpowers. Markets may have reacted optimistically, but it remains to be seen whether we should feel the same.

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