A 'CEO President'? Look at the CEO PM: Berlusconi, and the Italian state finances

[muriel_volestrangler]

The fiscal problems in Italy are now threatening to crash the European, and maybe world economies. And who has been PM in Italy for 8 of the past 10 years? The 3rd richest man in Italy (118th in the world), a self-made billionaire.

If any RWer ever says they want someone in charge who has experience building and heading a successful large company, just reply "Silvio Berlusconi?" to them.

[Tunkamerica]

1. Yeah, that'll work.

[WilmywoodNCparalegal]

2. I despise Berlusconi as much as anyone else, but

what's going on now with Italy is a lot more sinister and beyond Berlusconi's powers. There is a lot of speculation by those same financial institutions that cheered on the mortgage-backed securities that have imperiled the U.S. as well. In fact, a lot of Italians are up in arms about these institutions that are now basically betting Italy will be defaulting at some point.

Italy has had deficits for as long as it's been a republic (that would be 1948). Yet, it has always managed to survive even with a very generous social net for its aging population.

Italian parliament recently passed an austerity measure that raised taxes on wealthier Italians without much fuss (unlike similar proposals here in the U.S.).

There's no doubt that Berlusconi is not helping matters by his attitude that everything is ok and going fine.