There should be no incentive on any side to use exchange rates as a means to alter competition. Italy needs America to maintain a solid position in Europe, and the U.S. needs Italy actively to favor the proposed TTIP.
Spain or Italy: which one is worse off? Economically, Spain; politically, Italy. But since a bad political situation tends to hurt the economy, and a sick economy always poisons politics, the answer could easily be reversed.
It was a weekend of fear and mourning in Italy. Early this Sunday morning, an earthquake struck near Bologna. And on Saturday morning, a bomb exploded in front of a high school, killing a 16-year-old and injuring several other students seriously.