Italy, Autumn 2012. Part II

Italy, Autumn 2012. Part II

The next few months, being the first of 2013, will highlight an Italy in deep recession with the correlated risks of social unrest and violent demonstrations. The crisis that the country is going through is not only economic, the lack of work will act as a driving force and catalyst for problems within our civil society. Our first thoughts go to the dire situation of the Sardinian people. We have always had a special attraction to this area which we believe to be one of the most fascinating in the world, our frequent visits for work to Sardinia have highlighted a situation of limited sustainability. Primarily due to the events at Vinyls, Alcoa and Sulcis, but also due to the serious economic situation amongst small and medium enterprises, farmers, fishermen and the tourism sector, all united by the total absence of institutions. Speaking of work, it is virtually impossible for Italian companies to compete within this negative context of fiscal burden, obnoxious bureaucracy, lack of reliable and efficient infrastructure and with the threat of criminal activity that is paradoxically linked to a justice system which has been jammed since biblical times. In this context, it is not surprising that Mr. Marchionne said that Fiat did not see it’s way clear to operating within the obsolete Italian industrial context when compared to the dynamics in the United States. In essence this is the same belief held by many Italian entrepreneurs who have left or are leaving Italy to settle in Switzerland, Eastern Europe or China. With the resultant serious loss of credibility, historical memories, knowledge (many entrepreneurs have developed extraordinary patents recognised worldwide) and jobs.




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