ROME—When European Union nations agreed this summer to set up a 750 billion euro economic recovery fund in response to the coronavirus pandemic, a major motivation was to avoid a lasting depression in Italy that could tear apart the euro. For Europe, much now hinges on whether Italy can find a useful way to spend its part of the fund: roughly €200 billion, equivalent to $236.95 billion, in EU grants and cheap loans. Astute investments that lift Italy’s ability to grow could help overcome the country’s quarter-century of stagnation....

Source: Wall Street Journal September 13, 2020 12:00 UTC