Italy tried to QUIT EURO five years ago and now faces WORSE situation, economist claims

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Hans-Werner Sinn, former president of the German Ifo Institute for Economic Research, has painted a grim picture of the Italian economy and warned it faces a struggle to survive such a "catastrophic situation".

He said Mr Berlusconi realised the Italian economy could not survive within the single currency back in the autumn of 2011 and saw no alternative to pulling out as quickly as possible. 

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