Wage growth in European countries has been muted, even if we now see some pickup. Look at the numbers for Italy, Spain, even Germany: nominal wage growth has been much lower than inflation, implying massive real wage losses for workers. This is not a wage-price spiral.
Let's stop these one-sided stories about a more or less completely run-down 🇮🇹, incapable of doing "structural reforms", artificially kept alive by ECB and EU. Let's improve the intellectual quality of our economic policy debates - also in facing any new government.
"What's Italy without tourism?"
The EU's second-largest industrial location, where firms produce and export lots of high-tech goods. Italy plays an important role in European industry networks.
"Italy's industry faces severe competitiveness problems."
There are structural problems for Italian industry, but there are also things that are not mentioned. Industrial production in Italy lost out during 1990s and 2000s, but has performed better than Germany's since 2015.
"Italy is an economic mess, helped out a bit by tourism."
Italy remains the second-largest industrial location in the EU behind Germany - well ahead of France, Spain, Poland etc.
"🇮🇹 received much more or very much more money from the EU budget than it payed in [3 out of 4 Germans believe this] - living off others in Europe."
In fact, Italy was a net contributor to the EU budget for decades. And the simple payer-receiver logic falls short (spillovers!).
Italy's public-debt-to-GDP ratio remains high, but this is due to the 1980s legacy (when borrowing costs skyrocketed) and the impact of the financial crisis, € crisis and Covid crisis. Italy did more fiscal consolidation than any other country, contributing to slower growth.
"Italy will just continue with profligate government spending for social protection."
Eurostat data show that per capita government spending in Italy on social protection and health is well below the levels in Germany and France. #CAIN
"The next Italian government will just continue with profligate government spending."
In fact,🇮🇹 ran large and consistent primary budget surpluses before Covid: revenue exceeded spending excl. interest payments. 🇮🇹 has done more fiscal consolidation than 🇩🇪.
"Italy is just a debt mess at the costs of others in Europe."
In fact, private sector debt is relatively low in Italy compared to other OECD countries, which typically goes unmentioned when people complain about Italy's debt problems.
"Italy has been living beyond its means; now Italians finally need to adjust!"
In fact, 🇮🇹 has exported more goods and services than it imported since 2012 - also during the Covid crisis. Italians consume less than they produce - living below their means.
Il referendum cd. “acqua pubblica” il quorum lo superò. Il 95,8% dei votanti chiese l’abrogazione delle leggi che prevedevano una privatizzazione dell’acqua, che sarebbe dovuta passare dalle società private al settore pubblico. Quel voto non ha avuto alcun riscontro
A votare al #referendum per la gestione pubblica dell'acqua erano andati 27 milioni di italiani.
Dopo 11 anni la gestione dell'acqua è tornata ai privati.
Chi sono i disertori, i traditori?
#13giugno
@giuslit Difficile fare x i Governatori, cura, manutenzione e difesa della Salute quando nelle manovre finanziarie si fanno tagli. Gentiloni, p. e., impose nel 2017 ✂️alla spesa x tutte le città: -200 mln a Roma, -78 mln a Torino, - 65 mln a Milano, -59 a BARI, annualmente e x sempre.
“Non possiamo assumere, se non con una deroga e comunque con il contagocce”
Bari, 19 febbraio 2016.
Dopo 4 anni e mezzo: “non c’è più un medico”.
”Ricevevo degli ordini e dovevo eseguirli” [cit.]
“Non c’è più un medico”
Come se lui fosse uno de’ passaggio.
Cosa faceva quando c’era da assumere? Sparecchiava?
No, ora ricordo.
Si vantava di aver rispettato il piano di rientro sanitario.
Ed ha pure il coraggio di parlare.