For the first time ever, the European Union rejected a proposed budget from a member state: Italy. A deadlock has ensued, threatening a "doom loop" that could consume Italy's economy, the eurozone, and perhaps even the global economy. Former International Monetary Fund official Isabelle Mateos y Lago and Adam Tooze, economic historian and author of Crashed: How a Decade of Financial Crises Changed the World, join Brian Hanson to discuss this issue.