Italy’s Economy Vindicates Skeptics of Big Government

Italia cc

How Ferarris are ever built in the country is beyond me. But they’re built in the north, in Maranello. Things get worse the farther south one goes.

(From Real Clear Markets)

Elio Savoca, who owns the Gigliotto winery in Piazza, had the same answer. “Send the politicians home,” he told me. “They’re old, out of touch, and have been there for 30 years.”

The inherent problem, Savoca said, is that taxes are too high. He pays 60 percent of his profits in taxes. Plus, banks have no funds, and have stopped lending to companies.

Savoca is keeping his business afloat by exporting to Switzerland, Poland, and Germany, where economic growth is stronger. He’d like to export to America, but due to regulations, “it’s easier exporting guns than wine to America,” he said.

Another entrepreneur, Katia Caruso, renovated the magnificent Palazzo Marchesi di Roccabianca, a 17th century historical monument, in 2003, and turned it into a hotel. The rooms, built for nobility, now accommodate tourists from Italy and throughout the world.

The system of government is broken, Caruso told me, and the politicians corrupt.

Si รจ rotto anche qui il signor Caruso.

Click here for the article.