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The Time is Up for Italy’s Social Contract

January 28, 2013 by 4 Comments
Is Italy Going in the Right Direction?

Most of Europe adopted a post-war social contract; it survived for around 50 years until the Global Financial Crisis exposed its bankruptcy. Broadly speaking the compact - based on government sponsored wealth redistribution - promised full employment, with generous welfare and pensions. … [Read more...]

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How Italy Can Replace France as Number Two Economy

January 14, 2013 by 2 Comments
map-italy

France has finally concluded President Hollande’s first step in labor market reform. A compromise, as it had to be, the main feature allows for flexibility in downturns when wages can be cut in return for no dismissals. Mario Monti’s efforts were also a compromise; they tried to address … [Read more...]

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The IMF, EU and Italy – Part 3

November 12, 2012 by 3 Comments
Europe Needs Reform

There seems little argument that after fifty something governments since the last War the Italian system of government has become a spaghetti of legislation, regulations and bureaucratic processes, many of which have conflicting purposes and outcomes. It has been said that, in Italy, there is a … [Read more...]

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The IMF and the EU – Part 2

November 4, 2012 by Leave a Comment
Europe Needs Reform

Here is a statement we need to remind ourselves of – governments have no money. Every, Euro, Pound or Dollar government spends; every public sector road, building or asset comes from taxpayers somewhere. Every bond issued, every debt created is a charge against future taxpayers. As all … [Read more...]

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The IMF and The EU – Part 1

October 22, 2012 by Leave a Comment
Europe Needs Reform

Conventional wisdom at the IMF, certainly since 2010, has been that a budget deficit cut equivalent to 1% of GDP will lead to a ½ percent reduction in GDP. Without getting technical, this is called the fiscal multiplier. That position underpinned the argument that austerity was necessary and … [Read more...]

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Would Italy exit the Euro Zone?

August 21, 2012 by 2 Comments
Europe Needs Reform

One of the fundamental rules of negotiation is to negotiate from a position of strength. Mario Monti is an extremely astute and capable man.  He sees something Silvio Berlusconi could never have dreamed of.  Italy has a strong negotiating position. Italy has been portrayed as … [Read more...]

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Italy and its Demons

July 23, 2012 by Leave a Comment
map-italy

Constantin Gurdgiev makes some good points in his Tweets reported on Italy Chronicles last week.  Perhaps the Berlusconi years were better than we have come to remember. Gurdgiev sees the problem of Italy’s future as one of high national debt levels and the problems associated with servicing … [Read more...]

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Italy – A Brand Driven Revival?

June 7, 2012 by 3 Comments

The Financial Times the other morning reported that the world market in luxury goods is estimated to be worth $1.5 trillion.  It is one of the few bright spots in consumer goods as the ranks of the wealthy grow. A substantial part of Italy’s future lies in the export of luxury goods. I … [Read more...]

Filed Under: Italy News

VATILEAKS – Scandal in the Vatican

June 1, 2012 by Leave a Comment
Vatican-feature

Officials in the Vatican Curia as well as Vatican and Italian police are grappling with the implications of the leaks of confidential documents belonging to Pope Benedict XVI. On May 25 Vatican police commenced questioning Paolo Gabriele, 46, the Pope’s trusted private butler who lives with his … [Read more...]

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Italy’s Role in a New Europe

May 9, 2012 by 3 Comments
Europe Needs Reform

The election of Francois Hollande in France will usher in a new phase in European policy which will have implications for Italy and other EU countries who have been forced down the path of austerity. The period of German-French hegemony is over.  Angela Merkel has lost her major ally and will … [Read more...]

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