Wednesday, April 16, 2008

More Than 100 Percent

And herein lies the paradox. The fathers of the Italian constitution, mindful of the lessons of Fascism, drew up a document which left the prime minister a far weaker figure than most of his European peers. An Italian PM cannot even dismiss one of his Cabinet ministers on his own authority. Not many on the centre-left are keen to support constitutional change which would allow the billionaire Mr Berlusconi, who has ferociously attacked the judiciary and impugned their impartiality and independence, increased powers.
But the Italian public needs above all a government which can bring about the fundamental economic reforms which were introduced in Britain in the 1980s and which Nicolas Sarkozy now wants to introduce in France. The Italian economy is currently grinding along at virtually zero growth (0.5 per cent), very poor productivity and competitiveness, a public debt-GDP ratio of more than 100 per cent,
At least the U.S. is doing better than Italy on something. Not by much on that measure though...