Italy’s Diplomatic leadership against austerity

After the culmination of the German compulsive financial consolidation in the Cyprus issue most countries and economists recognize that “the current system of bailouts accompanied by austerity dooms the economies to perpetual recession and worsens debt ratios”. This new environment has not yet been materialized in domestic and European politics no country being able to challenge the German dominant position. It should not than be a paradox to see the less pretentious of the European leaders take the initiative to engage its country’s influence, the third largest Eurozone economy, against the austerity dogma. What the election of Holland did not achieve it is perhaps Italy through its PM Enrico Letta that could have the privilege to protect Europe from disintegratio