Disinfo: The adoption of the euro drastically harmed the Italian economy

Summary

The economic problems in Europe are gradually more noticeable. 20 years after the adoption of euro not all the European counties benefited from the common currency and Italy has been affected in the most negative way. Before the adoption of euro Italy did not have 5 million people below the poverty line, companies were not shut down and the young people did not have to move abroad. The responsibility for that lies on the European Union.

Disproof

Recurring pro-Kremlin narrative demonising the EU, the Eurozone and claiming that euro is responsible for the economic downfall of many European countries. Read a recent similar case here.

The Eurozone demonstrates the GDP growth of 2.4% as of 2017 according to the World Bank and the real GDP growth of 1.3% in accordance with IMF data.

Italy, however, has one of the lowest real GDP growth of 0.1% with the poverty hitting the hardest in 2017 since the world economic crisis of 2007-2008.

The World Bank confirms that Italy was demonstrating a stable GDP growth since 1999 when the euro was adopted until 2008 when the world economic crisis broke out and the economic growth become unstable.

The reasons for the economic problems listed by the IMF in their recent report show no connection with the euro adoption in Italy.

publication/media

  • Reported in: Issue145
  • DATE OF PUBLICATION: 02/04/2019
  • Language/target audience: Polish
  • Country: Italy
  • Keywords: euro, Euro-scepticism, economy, EU disintegration

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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