Economy

Financial economy completely detached from Italian reality

autism

The Milan stock exchange is rallying, and the spread between Italian and German State bonds is the lowest since 2011. More generally, Italy should not be considered a risk for foreign investors anymore, Mrs. Isabella Bufacchi wrote today on the leading Italian financial newspaper ‘Il Sole 24 Ore’.

A SWG Institute poll commissioned by the Italian Retailers Association, however, tells a very different story.

Eighty per cent of Italian families said it is suffering the crisis, with 86 per cent of the families cutting their expenditures and 41 per cent being in trouble to pay bills.

In 20 per cent of the families at least one member has lost his job or part of his salary.

Finally, only 16 Italians in 100 believe the promises by the Government and the EU Institutions that the economy will improve in 2013.

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