Matteo Renzi’s Italy falls down the euro league

Try as he might, Matteo Renzi just can’t push Italy’s economy into the eurozone’s premier league. 

Progress in the currency bloc’s third-largest economy has been hobbled by dizzyingly high levels of debt for the government and mountains of bad loans that burden the country’s largest banks and weigh on their stocks’ performance.

Italy is and will likely remain a “problem child within the eurozone,” said Marco Wagner, an economist at Frankfurt-based Commerzbank.