Economy / Politics

Italian economic situation dire

oliver

 

After the recent chaotic election, the National Statistics Institute published some very alarming data on the situation of the Italian economy.

As the GNP keeps going down, the public debt is up to 127 percent of it.

Juvenile unemployment skyrocketed at 35 per cent and virtually 50 per cent for young women in the South of the country.

The State budget slightly improved in the short term, but this is just the effect of a mammoth fiscal charge, which will have a further increase in 2013.

This economic emergency could favor the traditional political parties, provided that they are able to blame it, at least in part, on Grillo’s parliamentary war of attrition.

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