From one day to the next, Italy had to introduce capital controls and change the currency to a lira 2.0 that would depreciate. "This would be a way for the Italian state to reduce its debt but on the other hand, its reputation would be damaged for a long time," Wieland warned.
Italy's problem is the low growth, he said. "Italy should continue on its reform path and make the economy more efficient". Also Italian economists warned that it was not possible to consolidate and the economy could not grow if government spending increased.