The inherent contradictions of the euro and the eurozone system are on display here as the European Union threatens to fine Italy for the size of the national debt. Which is, I hope you will agree, something of a contradiction, that the responsibility for the outcome of economic policy is held by a different group of people than those who have the power over economic policy. In a report on Italy's debt, the executive European Commission urged Rome to take more cost-saving measures, worth up to 0.2 percent of its annual GDP. Economic policy works as a unity, not as a series of disconnected actions. They must just accept the monetary policy of the ECB.

Source: Forbes February 22, 2017 15:56 UTC