I know, I know, I keep harping on and on about Italy because I think - I hope - I pray - that it will be the final stone that will break the EU pony's back! Even so, I am somewhat supported by that keen observer of all things European, 'A E-P' at The Telegraph, who warns that against the odds the Left-wing 'Five Star Movement' and the Right-wing nationalist and anti-EU party, 'La Lega', are poised to form a coalition which will take over the government of Italy.
Leaders of the radical Five Star Movement and the anti-euro Lega party have been meeting to put the finishing touches on a coalition of outsiders, the "nightmare scenario" feared by foreign investors and EU officials in equal measure.
The unlikely allies vow a blizzard of contentious measures, threatening to cancel VAT rises, overturn key market reforms, introduce a universal "basic income" for the poor, and launch a fiscal blitz in open defiance of EU spending rules.
The formation of such a government – which could still unravel at the last moment – will stiffen German resistance to any form of EMU fiscal union or debt pooling. It effectively dooms the Macron plan for a eurozone budget, leaving monetary union almost unworkable in the next global downturn.
What can one say? Except, possibly, 'oh dear, what a pity, never mind!' And indeed, it would be a pity for Italy which has lived under the stifling blanket of a pro-EU civil service and whose leading politicians have been in thrall to EU bureaucrats for decades. Whether these Italian 'extremists' actually succeed in taking power in Italy remains questionable, and I hope they recognise, as the Greeks failed to do, the ruthlessness of the Berlin-Brussels apparat when it senses rebellion, or democracy, as some of us think of it!
Warning: to paraphrase a famous line, I am stepping out tomorrow (Friday), I may be some time!