The economic pain grows in Italy

This situation always arises when there are divisions of opinion in one state of mind. The divisions in the mind of Italy top government officials are affecting the confidence of Italy throughout the world.

Italy growing with its economic and financial pain, are trying to convince the world to maintain confidence in them. BUT FRANKLY SPEAKING IT’S NOT GOING TO BE EASY.

The major stability source for an economy is agencies evaluations of a country creditworthiness and investors confidence both are getting worse day by day there.

Italy contagion figure has hit market all around. Banks are unable to provide proper investment. In recent time Italy has avoided the worst economic crisis in the world. The only thing which is saving Italy market is the private saving. Its debt is still second highest in Europe-at 120percent of GDP, but due to a deficit budget it’s hard to maintain a proper balance.

According to the prominent jurists the situation has arisen due to contaminated leadership. Silvio Berlusconi, the current Prime Minister of Italy tops the list. Allegations are all around covered with him. He is accused of having sex with under-age prostitute, paying English lawyer David Mills to perjure himself, trial for having set up slush funds, and award to himself by an Italian judge as the biggest publisher. His supporters are too much idealistic and that makes the situation worst. They don’t believe the accusation and are not ready to accept the truth.

His theory walks in air as the major population now is unemployed, or we can say underemployed or are underpaid. Companies are struggling to get their total income, profit are miles away.

Beyond this there stands a big difference between the two political parties of Italy. Berlusconi’s People of Freedom and Umberto Bossi Northern League, as both are just concerned about how to add votes.

If this situation is going on then Italy may approach situation of outside forces-as of world wars, 1968 and cold war. It is approaching on one of those moments.

ITALIANS LOSING ITS CONFIDENCE

Report by Kushal Kumar