Mario Monti's decision to step down in Italy tells us the debt crisis is getting worse again,...

|By:, SA News Editor

Mario Monti's decision to step down in Italy tells us the debt crisis is getting worse again, writes Wolfgang Munchau, who calls the technocrat's year in office - and the effusive praise he received - a now-deflated bubble. Little has changed except the economy has fallen into a deep depression. Two fixes: Reverse austerity immediately and force the Germans into accepting some form of common debt.