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16-07-2013
Italy's Stock of Public Debt, Out Of Control
| New record set at slightly less than 2,080 Billion euro for italian government stock of debt, despite highest fiscal pressure in modern history. Tax burdens income more than proportionally, that in turns results in a reduction of tax revenues. In addition any opening to state-controlled companies by foireign institutions is regularly rebuffed by politicians, on self-interest, basically crimpling any possibility of modernizing Italy's old infrastarctures. Italy cannot cope with further taxation, this is likely going to be the year where the cpuntry will have to require aids. |