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Now the Five Star Party has secured the mayor-ship of Rome, Italian Prime Minister Matteo Renzi probably understands what Benito Mussolini meant when he stated: "Governing the Italians is not impossible, it is merely useless".Attempts at reformation by Renzi have not yielded the hoped-for results.Government debt is US.4 trillion approaching 140 per cent of GDP.The government is tardy in paying suppliers, in an elaborate shell game to lower Italy’s overall debt levels and mollify the EU and investors. My answer to all three: "Nope — because we followed the rules." The truth is, office romances are tricky and generally not recommended. " Those are questions I'm frequently asked when I tell people the story of my office romance.
By 2012, it was down to 13 million; output of washing machines, dishwashers, refrigerators and cookers was down by 52 per cent, 59 per cent, 55 per cent and 75 per cent.
This has constrained the supply of credit to the economy.
Larger companies can use capital markets for finance but this option is less available to small and medium sized enterprises that are crucial to employment and activity.
Infrastructure, dating back to the immediate post World War II era, is in need of renewal and lags leading economies. Italy spends less than 5 per cent of GDP on education, compared with a 6.3 per cent average across the OECD.
The proportion aged 25-34 completing higher studies is 21 per cent, compared with a 39 per cent average for the OECD.
Italy’s large public sector and bureaucracy is legendary.