Italy's government announced this week that two Russian oligarchs with property in the country have had their respective assets frozen in the bank. Complaints were immediately forthcoming, claiming sanctions on Russian businessmen did not include assets held in Italy. Of course, this move will provide serious money for Italian lawyers, judges, court clerks, and news media types looking for material. Maybe the Italians got this wrong; maybe not. But it will send a message back to the Kremlin. Is anybody listening(besides the FSB)?
Italy obviously operates on a different wavelength than other European countries. It appears that Italy and its prime Minister Matteo Renzi are trying to change a culture of inaction. Not easy after so many years of entrenched interests holding sway. Can things improve? They must.
Message here: outside investors be wary. Perhaps that is why Mr. Marcchione has been so successful at FIAT. He has taken FIAT to America, and he is making huge profits.
Tahomans like Ram pickup trucks. This helps FIAT's bottom line.
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