Monday 14 November 2011

The Italian challange

The Italian technical Goverment is in a very crucial moment to testify itself to cope with the financial debt and restore cridibility in the Eurozone.
Italy, the Eurozone's third biggest economy, has a national debt of 1.9 trillion euro. This morning Italy sold 3bn euros of 5-year bonds at a 6.29% yield, causing a further falling down in the Euro markets.
Mario Monti is new Italian Prime Minister with the hard job to save the country from the bailout. UE leaders do belive in him because his accademic and professional background and are used to call him Super Mario. He is a economic professor at Bocconi University in Milan and a former European Commissioner.
The Italian President Giorgio Napolitano underline the interest of the country to be in broad support for the Government. " This is the point on which all the political parties should come together." he said.
According to the Guardian, Berlusconi party's The Freedom People (PdL) wants the country to go back to the pools and belive the duration of the technical government "can only be linked to [its] programme and its implementation" said Angelino Alfano, the PdL secretary.
No comment came from Mario Monti for the Berlusconi send-off on Saturday night. 
The 75 years old  tycoon resigned as a Prime Minister amid a crowded celebration with whistles and insults to him.  He left without dignity through a side exit, after 17 years career in politics.
Outside the people called him "buffon" and "mafioso".
According to the Guardian, Berlusconi was very disappointed and upset because he belive he made a "generous and responsible" gesture. The main reason is because he can be threated in this way. He has a giant ego and has built a mausoleum on his image.
Now  Berlusconi as one of the richest man with a fortune existimated around 5.5 billion of euros is over time.
Italy need a deeper change. The question is if the country, known for the tasty and good food, now ready to make the big jump up with Super Mario.

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