Economy / Politics

The last Monti’s tax enters into force in Italy

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Italian technocratic prime minister Mario Monti has just resigned, but the last of his taxes will inter into force on January 1st, 2013.

Bank account and postal account holders, as well as the owners of financial products, will have now to pay a tax which will usually amount to a 0.15 per cent of their savings.

Italians are strong money savers. The typical family has no debts (beside a house mortgage) and has good financial reserves, invested in very safe products.

Some reports and statistics, however, clearly hint that this is no longer true after the crisis. Mr. Monti’s last tax could effectively give the coup de grâce to the traditional Italian family management model.

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