Italy is a country facing economic and political upheaval. With a Parliament pressing hard to pass reforms designed ultimately for leading to the resignation of Prime Minister Silvio Berlusconi. Italy is in fact a country in economic turmoil. If we evaluate the state of the economy, it does leave little room to deny this current economic crisis has been years in the making. So now, it will be left to a new Prime Minister to solve financial problems decades in the making that are central to the debt crisis now dragging down the European -- and the global --economies. Just this month we have witnessed, hundreds of protesters, most of them young people, demonstrating outside the Treasury Ministry building, protesters were …show more content…
Adoption of the package is seen as vital for re-establishing Italy's shattered credibility with financial markets after a series of unfulfilled promises by the government of Prime Minister Silvio Berlusconi. Unions said the cuts will hit poorer workers hard but there is little choice in the matter, a plan is in the works with the expectation of approval in parliament before Christmas. For Italy, the choice isn't between a light package and a tough package; it's between a tough package today and the risk of bankruptcy for the country tomorrow.
This package represents a last attempt by the EU union to restore confidence and show that even in these volatile markets Italy can pull through. One could argue though when a countries bonds yield hit 7% it is extremely difficult to pull them back. To many investors it is seen as a "point of no return.” Which then leads to the question, “Will the EU survive?”.
Only time will tell….
Italy is a country located in Southern Europe and shares its boarders with a number of countries that have impacted the culture of Italy today. This helps us understand why many areas of the country will differ in beliefs, food and even the language they speak. Italian is of course the official language of Italy, and according to Vistawide.com (a site dedicated to language facts) 93% of population natively speak the language. Around 50% of the