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Italy's 'perma-recession' could trigger a €2 trillion financial crisis that threatens the eurozone itself
Economists in Milan and London are debating whether Italy is carrying so much debt that it might collapse into a Greek-style financial crisis. Their fear is that because Italy is so much bigger than Greece — and because Italy is one of the Big Three economies underpinning the eurozone — that the scale of such a crisis might be more difficult to contain this time around.