China has picked off Italy and nobody noticed. In what could be considered an appalling move the…
China has picked off Italy and nobody noticed. In what could be considered an appalling move the Italian Prime Minister signed a historic memorandum of understanding with Chinese President Xi Jinping Saturday morning in Rome. The agreement made Italy the first founding EU member, and the first G-7 nation, to officially sign on to Beijing's "One Belt, One Road" (OBOR) economic development initiative.
For Italy, this appears an "any port in a storm" situation. Italy struggling with a high level of debt and a stagnate economy has found the EU less than supportive and lacking answers as to how they might kick-start growth
The ramifications flowing from Italy's deal with China may, in the end, prove to be a deal with the devil that opens the floodgates that washes away much of the EU and breaks the euro. The article below delves into the current deal.