With the passing of time, as more and more analysts do their analysis based on numbers and not on slogans, the cost for Italy to leave the Eurozone seems to magically get smaller and smaller. Before, pundits were predicting a total collapse of the economic system; later on some economists estimated the actual costs. Last week, even the ECB broke the tabu and estimate in 350bn the cost of italy leaving the Euro. Today, Mediobanca, published a report arguing that if Italy were to leave the Eurozone, it would actually SAVE money, 8bn, not much. But it is now clear that we are getting closer to a more serious debate. I, for my part, have been saying that the Euro would bring disaster to Italy since the late 90s.
In my second op-ed written for IlSole24Ore/Radiocor, I compare Italy and China in terms of ranking of legality. According to data from international studies that provide indices of legality for various countries, Italy is a lot better than China, but this is not enough to attract more foreign investment. Even though China is behind Italy several positions, it is ahead of Italy in terms of ‘order and security’ and this is a much important determinant of FDI than the democracy rank.
In this first Op-Ed for 2017 written for Radiocor, I attemp to compare Italian and Chinese economic pillars and suggest a simple program, in eight points, to revive the Italian Economy. China economy finds its success on an combination of government and private sector activity. Italians economy needs better coordination between those two sectors and citizens too need to play their role. More needs to be done, naturally, and I will in the course of the next few days, develop each of those points in more detail. For now, Happy New Year to All..