This does not necessarily imply that Italian authorities were bad or inept, only that the rules governing monetary and fiscal policymaking in Europe before the EMU were no longer appropriate for the highly fluent capital markets that had developed over the previous two decades.
Seulement que les règles gouvernant la direction monétaire et fiscale en Europe avant l'UEM n'étaient plus appropriées aux marchés de capitaux fortement fluides qui s'étaient développés au cours des deux dernières décennies.