60-Second Version Of The Economist's Evisceration Of Silvio Berlusconi


Photo: AP

Italian president Silvio Berlusconi has a, “total disregard for the economic condition of his country,” according to a new piece in the Economist. The paper tears into Silvio Berlusconi’s Italy and its poor economic performance.Here are the main takeways from that story:

  • Only Zimbabwe and Haiti had lower GDP growth than Italy from 2001 to 2010.
  • The female participation in the workforce is the lowest out of all the eurozone countries, at 46%.
  • Productivity fell by 5% during the 2000’s in Italy. It rose by a fifth in the United States and by a tenth in the UK during the same time period.
  • Mario Draghi, before he left for the ECB, blasted the Berlusconi government for “fail to encourage, and often hamper, [Italy’s] development.” Examples of that include a lack of competition in the country.
  • Italy falls behind Mongolia and Belarus’ on the World Bank’s ‘Doing Business’ index, because of the tax code and corruption in Italy. That puts Italy in 80th place.

Read the full story at The Economist >

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.