Ten years ago, economists and statisticians detected for the first time a marked diminution in the personal expenditures of Italians in the last quarter of every month. The reason was simple: the monthly salary was nearly over.
The “syndrome of the fourth week” is still there, albeit provoking a less spectacular diminution in expenditures; but this is probably because people are spending less during the whole month.
The time of the diagnosis of the syndrome is interesting, since it is before the infamous 2009 crisis. This proves that Italy had some some trouble even them, corroborating the arguments of those economists who maintain that Italy has its own structural problems beside the international and European ones.