I had already prepared a blog for this week’s posting, but
events over the weekend have compelled me to write another. As a prelude let me
tell you I do not like or enjoy following politics. Yesterday’s events in the
Italian political system, however, have left me reflecting. I can say I feel
uplifted but it will take a long, long time for us to actually see a light at
the end of the tunnel for Italy’s
political and structural woes.
Silvio Berlusconi,
Italy’s prime
minister, has finally resigned. His coalition government has been hanging
together by a shoestring since August. However, he is not the type of man to
give up. He has been the dominant player in Italian politics since 1994. No,
Berlusconi did not resign by personal choice. If Berlusconi was a person who
did things for the good of the country he would have resigned months, or even
years ago. He was pushed to make this decision by powers in the European Union
and beyond. Italy’s
economic standing risked contagion and the collapse of the entire world market!
I have never seen the Italian government take action so fast!
All has happened in one week! Politicians are even working today, on a Sunday! An
interim government is in the works, to be led by an esteemed economist named
Mario Monti. It will be a government of technocrats, aimed to enact largely
unpopular austerity measures in the hopes that Italy becomes a credible country
again. The new government will have to pass laws which change existent structural
realities relating to labor markets and pass laws in the hopes of
increasing productivity. The aim is to not follow Greece to the brink of bankruptcy. Italy’s
economy is just too large to bailout! Political parties are behind the idea of
an interim government, of course, because in this way they will not ‘take the
blame’ to pass unpopular reforms. Politicians talk about putting aside their
personal aims for the good of the country. Let us hope that, indeed, they will
do this. Otherwise it is will just be a return to the ‘money for votes’ system
that ruled, ran, and ruined the country.
Here are some links to newspaper articles which describe this rather complicated
situation:
If you have other good links s please let us know! I especially enjoyed the informed article that
appeared in The Economist in June, ‘The man who screwed an entire country’. The article discusses Italy's delicate economic situation and
Berlusconi’s role in it all. Italys' woes have been known for a long time. It is unfortunate
that the country has to be really pushed to limit to change and get things
done! Time will tell if ruling powers can effectively work together for the
true well being of the country.
- Posted by Elizabeth
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