As the populist Syriza government in Greece discovered in , once you are inside the euro area it is very tough to defy the will of Brussels and Berlin. But making a decisive break with the restrictive euro policy regime, if not the euro itself, was precisely what the supporters of Five Star and the League elected them to do. After a lost decade for the Italian economy, many Italians, particularly younger ones, regard the euro policy regime as a punitive straitjacket, and for ample reason. The unemployment rate is in double digits: And nearly one third of young people are out of work.
All capitalist economies undergo slumps now and again, but, setting aside the nineteen-thirties, there are few examples of big, advanced countries enduring such an extended economic squeeze. Even today, the rate of G. And the International Monetary Fund reckons that figure will fall back to 1. Some people predicted it. With the new Italian government, the E.
In Spain, for example, G. Among the Spanish youth, the jobless rate is even higher than it is in Italy: thirty-five per cent.
On Friday, however, the Spanish parliament seems likely out oust Rajoy, who is embroiled in a big corruption scandal. That means another important member of the eurozone is almost certainly be heading for an early election, in which relations with the E. But it will be running on a Five Star-like platform of confronting Brussels-imposed austerity policies. None of this means that the euro is doomed, still less the European Union. But it has raised anew the core question of how to reconcile the European project with shared prosperity and local autonomy.
Emmanuel Macron, the French President, thinks he has an answer: closer integration and a proper fiscal union. Varoufakis, too, has put forward a vision of closer union, one that is much less bureaucratic and more democratic. Considering there are 41 procedures to complete this may not seem all that surprising.
Resolving Insolvency It takes 1.
Culture Traditions and a sense of history play powerfully on Italian minds and both of these have heavily influenced the Italian approach to business. Trying to reach decisions can be a lengthy process and relationship building is one of the most important aspects to business there is. TMF Group We have the local knowledge to help you navigate these minefields. Whether you want to set up in Italy or just want to streamline your Italian operations, talk to us.
Challenges of Doing Business in Italy - La Gazzetta Italiana
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Top 10 challenges of doing business in Italy
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