Ci sono persone così povere che l'unica cosa che hanno sono i soldi.

Santa Madre Teresa di Calcutta

martedì 2 aprile 2013

The train to Hogwarts ...

If I think of Italy to this rainy early spring 2013, I am reminded of the principle of the film the boy wizard Harry Potter and the journey of the steam train departed from platform 9 and 3/4 carrying the cheerful aspiring wizards to Hogwarts Castle . The locomotive grinds km in the dark film, emitting the characteristic white puff of steam, following the curves of the track, direct to nowhere...

That this is Italy today: a train at high speed toward what? No one today would be able to give an answer to this question, I think.

But let's step back to December 2012.

Chancellor Angela Merkel in a year-end interview with the Financial Times has exposed this simple concept: if Europe today has only 7 percent of the world's population, produces about 25 percent of global GDP and must finance 50 percent social spending overall, then it is obvious that will work very hard to maintain its prosperity and its way of life.

Now it is clear that if this is the backdrop on which to play our future, in Europe the countries that will suffer more this situation (which is historically inevitable) will be those countries, such as Italy, which are the weakest point of view of economic resources and, above all, more politically plaster, with a ruling class that, at all levels, seems incapable of making team - Country and continues to play into the hands of their own petty interests of the bell tower.

In the end we were still, as mindset, Italy of a thousand common medieval: guilds are fans war on each other, seeking help and benefices from the Lord of the moment, so the populace, ignorant and foolish in the end it always pays the bill ...

After a thousand years of this script, maybe it is time that we understood that we Italians or remain united or history inevitably bring us back to being colonized again, not foreign states, but from central banks and sovereign wealth funds.

The work before us is immense and time inexorably rushing. But perhaps there is still time, only you can not see the horizon yet the will to change course. The last thirty days have shown a class of new MPs who seem to have not understood the seriousness of the situation we face.

One gets the impression that prevail are still the vetoes and the internal squabbles of political parties, while the country, in fact, without a guide, running fast to nowhere.

Faced with this situation, what should a foreign institutional investor must decide where to allocate retirement savings of their clients? Why should invest their savings in our country? Frankly, we find it hard to find some plausible reason to encourage them to invest in Italy. Not to mention the other side of the coin, equally dangerous for our country, which is of the same institutional investors and sovereign wealth funds, providing significant financial resources, do shopping of our best companies (which thankfully still exist) and pieces "quality" of our beautiful country. The risk actually exists and whether the economic crisis will continue with this intensity, I think we will be spectators of such situations.

How to react? The only solution is to stick together, like other European countries most mature and responsible of us do for decades, even centuries. United Italy has a hundred fifty years, but politically it still seems a carefree teenager.

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