Disinfo: Due to coronavirus, Italy is on the brink of default, many European states will likely cease to exist

Summary

The course of events in the next months can change Europe’s political map. Many European countries will likely not get through it, they will merge with bigger ones. Total economic downturns point at their absolute incapability to deal with the crisis. Italy is on the brink of default, and nobody can help it. The EU just does not possess enough money for saving the Italian economy. Everyone will care about himself in the first place. The situation is dramatic, similar events took place in the 1910s, 1920s, 1940s.

Disproof

This message paints a far-reaching gloomy economic and political scenario which is consistent with a common pro-Kremlin narrative about the EU's imminent collapse. Whereas the economic consequences of coronavirus outbreak for Italy are indeed grave and a sharp economic slowdown is expected, it will not inevitably face default as alleged.

At present, no EU country has a credit rating low enough to justify that claim. The EU as a whole enjoys a very high credit rating. Before the coronavirus outbreak it was rated AAA/Aaa/AAA/AAA (outlook stable) by Fitch, Moody’s, DBRS and Scope and AA (outlook stable) by Standard & Poor’s.

See earlier disinformation cases alleging that the coronavirus puts EU’s existence into question, that Italy, Spain, Portugal, and possibly even France are in line to exit the EU, that a number of EU countries teeter on the brink of default, and that the EU is rotten and countries are leaving it.

publication/media

  • Reported in: Issue 190
  • DATE OF PUBLICATION: 23/03/2020
  • Language/target audience: Russian
  • Country: Italy
  • Keywords: coronavirus, EU disintegration, European Union, Economic difficulties, Conspiracy

Disclaimer

Cases in the EUvsDisinfo database focus on messages in the international information space that are identified as providing a partial, distorted, or false depiction of reality and spread key pro-Kremlin messages. This does not necessarily imply, however, that a given outlet is linked to the Kremlin or editorially pro-Kremlin, or that it has intentionally sought to disinform. EUvsDisinfo publications do not represent an official EU position, as the information and opinions expressed are based on media reporting and analysis of the East Stratcom Task Force.

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