Wyn Thomas - Axys Investment Management

Weekly Market Update 17th August 2018

ITALY PASSES THE BLAME TO AVOID HOMEGROWN ISSUES

A collapsed bridge in Italy this week that left 39 dead has further widened the cracks in the Italian government. The Eurosceptic League pointed the
blame at the EU for restricting maintenance spending, while the Five Star Movement aimed its fire at the motorway operator responsible for the
maintaining the bridge. It may be time however, to stop playing the blame game and start with the man in the mirror as Italy’s problems are homegrown.
The government announced a state of emergency over the incident, but one hopes it may persist long after the investigation is over, as Italy’s huge
burden of debt and fiscal weakness should really fall under the bracket of an ‘emergency’. Read more…