tag:blogger.com,1999:blog-3949752.post4960641849047844692..comments2023-04-29T17:39:27.807+02:00Comments on Italian Economy Watch: Prodi Calls Confidence Vote in the Lower House, Live BloggingUnknownnoreply@blogger.comBlogger2125tag:blogger.com,1999:blog-3949752.post-8329506805058291402008-01-22T22:45:00.000+01:002008-01-22T22:45:00.000+01:00Hi Hans,"Ed, it seems that you see an alternative ...Hi Hans,<BR/><BR/>"Ed, it seems that you see an alternative to the actual government and its program. I don't."<BR/><BR/>No, sorry, I'm not going that far. I was getting myself carried away by my own rhetoric. It was that expression of his about "going down standing up that got to me". I find it hard to see how - literally speaking - you can do that :).<BR/><BR/>I mean there are far too many theatricals going on here, and far too few real hard thought out political plans for really changing things.<BR/><BR/>The thing is the coalition is virtually bound to fall apart at some stage, since the economic problems are about to mount in an important way, and then the "medicine" in terms of public spending cuts which may need to be dished out are probably going to be just too much for the left allies.<BR/><BR/>Basically I think we are soon going to be into a long running tussle between ratings agencies - who you will recall are now sure to become a lot more strict after the most recent debacle, and Italy's steadily mounting social services and welfare costs. Again, as I've been flagging, we should also expect to see a growing North-South dimension to the problem.<BR/><BR/>I mean, I resist the idea that there is no alterantive at all, since this would begin to imply that Italy had now - as a nation state - passed the point of no return. Some sort of realignment in the centre is obviously necessary, and Bertinotti's departure only makes that even more remote. Or at least that is my impression from here.<BR/><BR/>Japan and Germany are already visibly wilting under all the reform fatigue, but could we say that Italy already has the fatigue without having actually carried out that much in the way of reform. Those participation rates in the 55-64 age group I cited are absolutely scandalous given the high level of male life expectancy.Edward Hughhttps://www.blogger.com/profile/10384039867580949531noreply@blogger.comtag:blogger.com,1999:blog-3949752.post-74913863217780022062008-01-22T18:27:00.000+01:002008-01-22T18:27:00.000+01:00"better not to drag things out too much"Ed, it see..."better not to drag things out too much"<BR/>Ed, it seems that you see an alternative to the actual government and its program. I don't.Hans Suterhttps://www.blogger.com/profile/15643533748766695159noreply@blogger.com