When Italy had its last elections, and Italians in Switzerland could participate, it became clear that the Italians in Switzerland by a definite majority voted AGAINST Berlusconi and his folks. Looks as if they got proven right !

I sincerely hope that Italy gets the turn-around required and can get UP again !

I really like and respect Mr. Mario Monti, he is extremely intelligent and competent, and I hope they will let him work.

Not to mention he is from my hometown, Varese* (plus), he is an alumn of my university where I got my bachelor's degree, he became dean of the same university, and still serves as president (plus plus - but not sure if he will still keep at that now).

*No, we don't "produce" only nutcases like this guy!

Well let's hope so. I still haven't met many people who admit to voting for Berlusconi but certainly a lot of people did between 94 and now. Sadly the problems lie deeper in the employment legislation, in the corruption and patrimony, in the failed tax system that fails in its basic function: to gather tax.

There was an excellent BBC documentary last week (04/11) which you may still be able to download. It makes rather depressing listening

Now is the the for legislation to change to make it advantageous to expand and to employ people, for some stimulus and for a chance for the younger people. Italians are creative, will work hard and invent things. But first they need to remember these attributes and leave the psychology of entitlement behind them. Instead I fear we all have austerity, cuts, increased unemployment and more depressed people. The restaurants are empty, shops are closing down and people look defeated. I am not optimistic

I hope it works out to, that those poor souls ( Italians)don`t have to emigrate to Toronto

thoughtful of you, wollishofener
but no, I'm not happy. I'm not even relieved. I escaped from pre-berlusconi italy which was bad enough. what he has left now is a country in ruins. I'm just endlessly sad. sad for the people, and especially the millions of children who live in utter poverty in the north and especially in the south and have no chance whatsoever for the future. I am almost ashamed of the privileged life I could offer my kids by "escaping" to a civilised country before the going got too rough.
I am full of admiration for those who stay and fight everyday to save the country. but I am too cowardly and selfish to go back and play the hero at the expense of my family. for them italy is and will always be the country of beauty and elegance, of culture and history, of friendliness and dolce vita. nothing more. nothing less.
as for me, when I'm feeling well I think of myself as an exile, when I'm feeling down I feel as I were simply "on the run" all my life.

I cannot be optimistic about Monti nor any other solution. I'm sure the man is respected and will do a passable job under the difficult circumstances - but that's not the point. he will do what europe wants him to do, not the italians. so what will happen when his time is up? we have no opposition capable of taking over. and let's not forget how many berlusconi voters will still be around... only looking to fill their own pockets at the expense of others, in good old italian fashion.

While many of my friends are openly anti-Berlusconi, clearly there are many who are not (else who elected him?)

Personally, I find the alternatives to be worse, but that is for our friends and relatives to decide.

Tom

Its not going to happen just because of a new head at the helm though. They are 1.9trillion euro in debt!! Unfortunately there is NO turnaround with a debt that size - Zip!. The highest growth rate in the last 10 years has been 1.5%, and even less for the average for the last 30 years. Austerity will cause a slowing economy (the people will hate it) and NO austerity will cause more debt and im quite certain both situations will put pressure on bond yields, unless the ECB comes in and continues buying them up. The very fact that Draghi (an Italian!!) is at the helm makes that more and more likely, so the problem will be pushed down the line for a while longer.

Berlusconi was a disaster, the same as politicians before him, the same as politicians after him (most likely). Unfortunately not much will change while everyone is still pinning their hopes on the next 'but his different' politician.

And onto happier news.....

Well, as much as I respect your opinion of what to me will remain "breakfast town" in the very best way I also see that Mr Bossi has some quite positive federalist ideas in his mind ......... and in the past few years possibly has realized that things do not work the Berlusconi way. Berlusconi simply used his voting power but has not given the Italian regions any additional powers, in a time when France gave more powers to its regions. Berlusconi stayed a stubborn centralist . Umberto Bossi so has been a kind of "court-humourist" (HOFNARR) for the "Cavaliere" (chief crook).

Well, I on INfrequent visits to Italy never realized how lousily off the country has become. But pessimism was what brought Russia into Communist rule and optimism was what brought Italy up between 1945 and 1990 . I canNOT give you recipes of how Italy can be taken out of the mess it is in right now, but those now in charge KNOW that they have to find ways to do the job !

************************************************** **********************

Do not exaggerate ! The debt ARE enormous but to speak about "trillions" is rubbish, as it is "only" a few billions . That the growth rate in the past 15 years has dropped to zero from what had been top league for decades before is fact, but exactly THIS is what needs to be changed. Just as in case of Greece, some people in the EU will have to give a helping hand ... no doubt

I'm sorry Wolli, but unfortunately the 1.9 trillion Euro figure is correct.

Have you been doing some internship in S&P?


Talking absout Sudan?


I can tell you why there are still B voters around: Among other reasons also because of statements like yours.

It is ridiculous how Italy slipped down in European consideration within a couple of months, but not because of Berlusconi (remember that until spring everybody was glad that Italy bypassed the banking and the financial crisis?).

I don't think he has been doing a great job, but not being an idiot either, he definitely did not ruin the country. GDP per capita and general wellness is high above European average, and the northern regions outstand most Swiss cantons even.

Zero growth rate is not a good thing to persue, but still does not mean recession. And believe me - Italy is not Greece and not Spain.


Debt itself is no problem as long as you can afford interest rates.


And again - GDP is not everything (e.g. you may consider average wages), but far more important than debts or financial deficits.

Sorry to say, but debt IS a problem. Italys public debt levels are bigger than the entire economy and its the young generation that is going to have to ask itself whether it wants to accept that or not. The high debt levels will continue to drag on the economy. The 'debt levels isnt a problem' mantra is DEAD as it always has been and as these welfare states are now discovering. By the way, the interest is fairly LOW now, just wait till it aint as Greece did.

Italian debt is not dramatic;

Belgium, Japan and the US are rich countries.


The problem is trust from mkts and institutional commitments.

Which do not depend on B or on Italian Governance,

but on what is said and done in Bxl and Berlin.

Berlusconi used his media empire to push his agenda and maintain popularity. Very powerful tool even for those who didn't really want to vote for him.

I was saddened to see one of my favorite countries become such a laughing stock to the rest of the world due to his lack of action and seriousness. Mr. Monti seems dry but Italy really needs a personality like that right now. Italy has skated on its charm long enough and it's time to modernize the country and get the North and South unified again.

I bought a cubic meter of bricks saturday and there was about 15 minutes of paperwork and then nobody to hoist the pallet onto the truck. Too much bureaucracy and nobody giving a damn.

Patriotism is paying your taxes not shouting at a football match. Sadly in Italy people don't seem to demonstrate this: Just look after your own is the usual mantra. Italy has a social culture problem as much as a financial one. Its very, very sad

oh, I see, thanks for letting me know. but it's a bit late now, if I had known before I would have stopped making such statements

I perceive it as a bit obscene to compare Italy to Sudan.

italy is supposed to be an industrialised country, we have enormous resources and still we manage to be last in everything.
I don't know how easy it is for someone who is not italian and does not live in italy and visits only infrequently to know what's really going on there in the day to day life of families.
it's not about having enough to eat (but you would be surprised to know how much it is, actually, also about that), it's about decent schools, decent hospitals, decent infrastructure, decent jobs that won't force well qualified people to emigrate just because they don't have useful "connections", thus impoverishing the country more and more. that's what I call a fair chance for everybody.

in the south the state is simply absent, a shameful percentage of kids drop out of school when they haven't even finished primary school and get recruited immediately by the mafia. the mafia played an important role in establishing berlusconi's power, by the way: nobody achieves power in italy without their support, it's not just berlusconi but all those before him.

cuts in school and education are proving devastating even in the north, or how many kids in switzerland have to bring their own toilet paper to school? oops - where's THAT money gone to?? how many rolls of toilet paper can you buy with just one of the necklaces he bought his whores with?

I never said it was berlusconi, it's the italians who are simply interested in their own individual survival and cannot think strategically for the good of the community. it's our fault, not berlusconi's, who was democratically elected so many times I can't even count them. berlusconi is just the utmost expression of the worst "italianità".
before it was simply someone else - it's the "self service" mentality as the germans say. no sense of res publica (ironic to think how important it was for our ancestors, the romans): grab the money and run!

Probably just another one of your attempts at humour on a sunday evening.

As a matter of fact it ist;

That's why I was criticising your statement about "million of children in utter poverty" and "ruining the country".

You are not doing any justice to Italian (or Swiss) children who are cut out of wellness nor to people in really poor countries who have to face war and famine.



Well, I'm living at 2 km from the Italian border. And I wouldn't say that I "visit infrequently".

I know Italy is no paradise, but either is Switzerland. Some things work out better in and for Switzerland at the moment, others do not.

It's up to everybody to change that, but surely it won't work by complaining all the time and propagating "grab the money and run".

Firstly Monte was not elected into his position by the people.
He has basically been put in place like the new Greek leader by the EC mob that haven't really been elected themselves.

Belisconi was elected by the people though a coalition government much like Cameron and the UK.

Berlisconi's party will basically be able to control Monte and can bring him down whenever he wants. His party can probably force a general election and with Berlisconi controlling a lot of the media can have a big influence.

Therefore Monte will struggle to succeed and on a financial note cvannot see how he can manage.

I would bet that Mr Belesconi will be back.

While I realize that your negative analysis is based on the bad facts, optimism is needed. The job to be done in your country is gigantic, true, and possibly impossible, but Mr Monti apparently tries to achieve what can be achieved.