Mario Deaglio
Mario Deaglio (b. 1943) is an Italian economist. He teaches international economics at the University of Turin. Between 1980 and 1983 he was editor in chief of Il Sole 24 Ore. An economics editorialist at La Stampa, he is also a contributor to The Economist and Panorama.
Updated: 2 September 2010
After a period of relative truce and some optimism, the markets seem to be back in a mood to dish out more punishment to the shakiest countries in the euro zone, and social tensions are flaring up. Those who thought that the modest changes in policy would solve a structural crisis are gravely mistaken, says an economist. 
Markets and European partners’ pressure may be about to finally break Berlusconi’s desperate and costly resistance. But his exit won’t suffice to resolve Italy’s lack of credibility and its deep socio-political crisis. 
Libyan leader Muammar Gaddafi has demanded 5 billion euros from Europe, and unless he gets what he wants, he has threatened to stop policing the Mediterranean for illegal immigrants from sub-Saharan Africa in search of a better life in Europe. Isn't this blackmail? Perhaps. But in the absence of an alternative to the problem, Gaddafi's proposition at least makes financial sense for the EU, according to economist Mario Deaglio.