Ray Dalio: Unity Behind The Leader Or Internal Fighting? The Mario Draghi Case
The case at hand is that of Mario Draghi and Italy. It’s “another one of those” classic cases in which a country’s lack of discipline and fragmented leadership have led to a combination of 1) excessive debts and 2) a lot of internal conflict. Italy is also in 3) a big external conflict relating to the Ukrainian-Russia war. Together these forces make Italy vulnerable to a debt/financial crisis and de facto anarchy. In my template for a cycle of internal orders and disorders set out in Chapter 5 of my book, Italy classically is in stage 4 of the cycle. This case isn’t just interesting in how it ...