Wednesday, January 27, 2021

Italy: Is a Government in Crisis if Today's Action is a Repeat?

So, here we go again. The Italian Parliament decides to split off a minority party coalition. This coalition lwead by former PM, Matteo Renzi, the Pseudo Democrat(actually Communist Sympathizers). The former Mayor of Firenze in the Province of Tuscany, resigned as Premier a couple of years ago. The Premier for the last 17 months, Signor Conte, resigned yesterday when Renzi's group abandoned its support for an already weak government coalition. The issue: how would the goverb=nment best spend a flood of Euros being sent to the Southern Med countries to pump up an economy under severe stress caused by the Corona virus(Covid-19). The GDP of Italy is projected to retreat by 5+% this year. This estimate could be low. Other European countries are also suffering the effects of the pandemic. Couple these with the UK's Brexit move, and we have a Euro Zone under stress. President of Italy, Mr. Matarella, might have to call for new elections next month unless he can induce Parliament to form another coalition government that can survive in this economic downfall. Italy has endured a stagnant economyfor decades and thebgovernment has yet not been able to promote growth that is sustainable. Additionally, the problem of migrants landing on Italy'ssouthern shores has not inspired confidence among international investors. Centers of tourism such as Rome, Venice, Milan, Florence, and Naples have had tp adjust to a new "normal" as international travelers have canceled planned excursions to the historic sights. Locals, despite poor economic outlooks, have enjoyed small crowds, lower prices, and few tourists in the grat museums. Vaccinations have yet to be come commonplace. Long lines and spotty availability plague those wishing to get protection from the deadly virus. The W.H.O. has touted safety measures that can help, but the vaccine holds out the best hope for a turn around worldwide. Meanwhile, the E.U. shakes its collective head as Italy endures another political-incident? disturbance? weakness? You can call it anything. No doube, new elections soon. Don't forget to vote, and plaease, don't tell Putin and the FSB.

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