According to our dear enlightened former PM Berlusconi Monti and his german-centric are to be blamed for bad state of the Italian economy. While I do not agree with some of the policies of Frau Merkel or Mr. Cameron or more then a couple of other politicians by far the biggest share of our current troubles is home-made. And the guy with the biggest influence in the last 20 years was mostly busy with bunga-bunga, delayed actions against the law as well as breaking it and personal business affairs.
Another big slice is the unhappy impact of supply-side globalisation in traditional Italian sectors with vastly increased competition. The increase in demand resulting in more export was not able to compensate the loss. In this case Germany got dealt the better cards with specific sectors booming due to heavy international demand.
The Scala bit is really just a storm in the tea cup but Mr.Balotelli scoring in the Summer was certainly not
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I have now to clean up the portfolio to give the state as little tax money as possible. It was stupid to leave it for so late as the markets have generally gone up, should have sold some stock with negative return already during the Summer. This way I could have balanced the book with less friction.
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