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Why Mario Monti May Damage Italy’s Mental Health

February 4, 2013 by 2 Comments

Yes, it may seem an odd claim to make, but if you read the book Progress or Collapse by Italian academic Roberto de Vogli, you will quickly understand why the assertion that Mario Monti may damage Italy's mental health is possible. Now, this is where things may become rather complicated unless … [Read more...]

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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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Will Italy Sink Back into the Mire After the February Elections?

January 14, 2013 by Leave a Comment
Is Italy Going in the Right Direction?

Silvio Berlusconi was a consequence of Italy's ineffectual left whose leaders could not hold a government together for more than a few months. Mario Monti was a consequence of Silvio Berlusconi who held his government together, just about, but did nothing positive for Italy's economic … [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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Is Mario Monti Good For Italy? Not really.

December 19, 2012 by 1 Comment

While this site suffers from a bout of technological hiccups, I suggest you go off to read a fascinating article on why Mario Monti and his technocrats failed and why the approach of another, less distinguished but more expert economist Ecuador’s Rafael Correa would probably have sorted out … [Read more...]

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Berlusconi Makes an Unwelcome Comeback Which Terrifies One and All

December 10, 2012 by Leave a Comment
Is Italy Going in the Right Direction?

While down, Silvio Berlusconi was never really out.  Although Italy's ex-prime minister gave retirement some consideration, at the end of the day, he realized that the only real option for him was to bounce back onto Italy's political scene and this he has done in spectacular … [Read more...]

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Updated: End Now Nigh for Mario Monti, Italy, Europe and the World

December 7, 2012 by Leave a Comment

While it is not yet 100% certain, it is looking as if Italy's Mario Monti led technocrat government may well end today - well, it did look this way - please see the update below. Update 12:00, 10 December, 2012: After events at the weekend, it has become clear the Mario Monti government will not … [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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